Iran’s Central Bank secretly accumulated at least $500 million in USDT stablecoins throughout 2025 to stabilize the plummeting rial amid economic sanctions and currency crises. Initially using Iran’s Nobitex crypto exchange, the bank shifted its operations to decentralized exchanges and cross-chain transfers after a major hack depleted Nobitex assets. Security concerns have emerged as some wallet addresses linked to the Central Bank were exposed, possibly undermining the effectiveness of this crypto strategy.

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