Financial Tribune - Developed by the Informatics Services Corporation at the behest of the Central Bank of Iran, the banking system is planning to make use of a national cryptocurrency.

The national cryptocurrency is launched by the CBI and can be transferred from person to person without intermediaries on a distribution platform, the chief executive of ISC said.

Aboutaleb Najafi elaborated that the aim of developing crypto infrastructure is to conduct feasibility studies and assess blockchain technology and cryptocurrencies in promoting financial and payment services in the domestic banking industry at the inter-bank and micro-banking levels.