Iran has launched a gold-backed cryptocurrency

Iranian authorities have launched a gold-backed cryptocurrency PayMon to bypass international sanctions. On the release Aldona worked banks Parsian Bank, Bank Pasargad, Bank Melli Iran and Bank Mellat, the asset will be presented on the OTC platform Fara Bourse, writes CryptoGlobe.

According to the Director of the company Ghoghnoos Valiollah Fatemi, initially will be issued 1 billion new tokens. They will be used for tokenization of the assets of financial institutions and reduce the negative consequences for the economy when disconnected from the interbank system SWIFT.

In late January, the network appeared the information that the Central Bank of Iran is preparing to introduce a ban on the use of digital money, which has not received approval from the local financial regulator, to protect its own national cryptocurrency. Citizens will be restrictions that they are unable to hold funds in excess of $ 10 thousand in Bank accounts.

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