CBDC Will Have to Wait

The Central Bank of Iran says it is in no hurry to launch its central bank digital currency (CDBC) though it was expected to be unveiled today (Monday).

Mehran Mahramian, the CBI deputy governor for innovative technologies, said that the test phase of crypto-rial will be launched soon, but "will take place gradually…we are not in a rush to unveil the project," he told a press conference, ILNA reported.

Peivast magazine last month quoted an official from the CBI who said that the project had completed its pilot stages and would be launched on February 7.

According to the official, Bank Melli, Bank Mellat and Bank Tejarat were involved in the experimental phases. All banks and credit institutions are to start offering electronic wallets for the planned new currency.