OREANDA-NEWS  In Iran, a new form of local currency, the digital rial, has been launched into public circulation since June 21, with reference to the country's Central Bank, Prime reports.

It is noted that customers will be able to make purchases and transfer funds without using paper money or bank cards, namely by scanning a barcode. The regulator started working on the digital rial project three years ago. Now, in the country, with the participation of local banks Mellat and Tejarat, testing of the tool "with the possibility of public application" is starting.

Earlier it became known that Russia and Iran, which increased the volume of trade turnover by almost one and a half times (by 48 percent) in January-March 2024, are going to use new payment methods, which will be digital currencies of central banks (CB) and digital financial assets (CFA).

In Russia, the digital ruble, which is expected to become an alternative form of national currency along with cash and non-cash rubles, was launched on the market on August 1 last year. As reported in December, over 900 thousand operations were conducted in 11 cities of the country as part of the testing. A larger-scale use of the digital ruble is planned for 2025.