🚨🚨 BREAKING News 🚨🚨
Iran’s Central Bank Accumulated Over $500M in USDT, Report Says
Blockchain analytics firm Elliptic has revealed that the Central Bank of Iran (CBI) acquired at least $507 million worth of Tether’s USDT stablecoin over the past year. Analysts say this accumulation was likely part of broader efforts to support the Iranian rial and manage international trade amid ongoing economic challenges and sanctions.
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According to the report, leaked documents and on-chain data show the purchases were made in two major transactions during April and May 2025, with payments settled in Emirati dirhams. The USDT was initially transferred to Iran’s largest exchange, Nobitex, before later being moved across blockchains via cross-chain bridges after a major hack hit the platform.
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Elliptic’s findings suggest that Iran may be using stablecoins like USDT to create alternative financial infrastructure outside traditional banking channels, enabling the country to conduct transactions despite international restrictions.