Iran Seeks Alternative in Bitcoin and Tether Amid Sanctions
Iran is seeking to utilize Bitcoin and Tether as alternatives to conventional international financial networks due to strict sanctions and economic isolation. The Iranian central bank has relaxed its foreign-exchange controls, allowing exporters to use these digital assets for cross-border transactions through domestic crypto exchanges.
This move enables businesses to transfer export proceeds directly into imports while avoiding the restrictions imposed by the state on exchange rates. Stablecoins such as Tether's USDT offer a digital dollar alternative that can be transferred across borders without relying on traditional correspondent banking networks, while Bitcoin provides another payment rail outside the conventional financial system.
Iran's crypto activity is already substantial, with nearly $10 billion in cryptocurrency transactions processed in 2025, according to the Financial Times. The country also has significant Bitcoin-mining capacity, supported by relatively cheap domestic energy.