Iran's central bank to pilot CBDC pilot on Kish Island - 0 views
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John Kiff on 18 Jun 24The Central Bank of Iran (CBI) will launch a pilot its digital rial central bank digital currency (CBDC) in July 2024. It will allow banking customers and tourists on Kish Island to make purchases and transfer funds using digital wallets and QR codes. The CBI has been developing its CBDC since 2022, and started proof-of-concept work in June 2023. The digital rial has been targeted solely for use in Iran and to facilitate domestic micro payments operations. The overarching goal of the project is to modernize and simplify domestic transactions.