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Iranian companies can use bitcoin for international trade

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Iran is taking new steps to allow bitcoin to settle international payments in trade contracts, among other things. Iranian companies, especially in the oil and gas sector, will have the opportunity to use bitcoin as a means of payment. This makes it easier for companies to operate to circumvent the sanctions.

To facilitate this in a regulated manner, a partnership has been set up between the Ministry of Industry, Mining and Trade and the Central Bank of the country. According to Minister Alireza Peyman-Pak, the payment option will become available to importers as well as exporters this quarter. Bitcoin actually becomes not only a part of the banking system , but also international trade relations.

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