Iran’s Central Bank Acquires $507M in USDT Amid Rial Crisis
- Iran’s Central Bank purchased $507M USDT to support rial.
- Sanctions evasion drives the digital currency acquisition.
- Tether blacklisted wallets, freezing $37M of assets.
In April-May 2025, Iran’s Central Bank reportedly acquired $507 million in USDT to stabilize the rial using Dubai-based transactions, a move uncovered by Elliptic’s blockchain investigation.
This acquisition illustrates the ongoing use of cryptocurrencies for economic stabilization, amid international sanctions, highlighting the evolving role of digital currencies in global finance.
The Central Bank of Iran purchased $507M in Tether’s USDT to bolster the rial’s declining value. This action follows intense financial pressures, as the rial halved in value in the months preceding the purchases.
The Central Bank collaborated with Nobitex to manage the injection of USDT liquidity. The absence of official statements highlights the covert nature of these transactions aimed at circumventing international sanctions.
The influx of USDT is anticipated to provide vital support to Iran’s economy by offering an alternative to traditional financial systems. Economists observe that this move attempts to stabilize the domestic market amid sanctions.
Tether’s decision to blacklist wallets associated with the Iranian Central Bank reflects ongoing regulatory challenges. The freeze on $37M illustrates Tether’s control over its token transactions and its role in compliance with international regulations.
Iran’s strategy to employ digital currencies highlights a potential shift in how nations might combat economic isolation. With sanctions enforcement tightening, digital currencies present a path for rerouting traditional financial channels.
Historical trends indicate that financial isolation can trigger innovative fiscal strategies. A spokesperson from Elliptic noted, “Iran’s use of USDT may inspire similar methods globally, albeit under close scrutiny.” The intersection of crypto technology and sovereign finance continues to evolve.
