Iran Central Bank Purchases $507 Million in USDT to Bolster National Currency, Report Reveals

A recent investigative report has uncovered that the Central Bank of Iran (CBI) executed a significant purchase of Tether (USDT) stablecoin to support the national rial. According to the findings, the CBI acquired approximately $507 million worth of USDT. This strategic move is interpreted as an effort to utilize cryptocurrency reserves to stabilize the local currency and potentially circumvent international economic sanctions. The acquisition highlights the growing role of major stablecoins like USDT in global macroeconomic strategies and central bank digital asset operations.