Iran to launch its own cryptocurrency

Iran to launch its own cryptocurrency

Iran's Peyman cryptocurrency is about to start operating and will soon be launched, CEO of Bank Melli Iran Mohammad Reza Hosseinzadeh said, adding that the cryptocurrency is gold-backed.

Hosseinzadeh noted that the cryptocurrency will be created with the partnership of four Iranian banks – Bank Mellat, Bank Melli Iran, Bank Pasargad and Parsian Bank – with blockchain startup Kuknos Company.

Meanwhile, 200 million units of Peyman will be given to new customers, and 150 million Peyman will be given to citizens who will take their gold to the partner banks mentioned above.. Also, 600 million units of Peyman will be produced on a monthly basis, by taking the market demand into account, Trend reported.

Iran officially announced the launch of the Peyman cryptocurrency in late January 2019. 

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