Iran: Gold-backed Crypto ‘PayMon’ Introduced

Iran Gold-backed Crypto ‘PayMon’ Introduced

A gold-backed cryptocurrency named “PayMon” has been introduced by the Islamic Republic of Iran to bypass the international sanctions. The launching of the newly-launched gold-backed cryptocurrency has been made in a collaboration with four banks: the Parsian Bank, the Bank Pasargad, Bank Melli Iran, and Bank Mellat which shared that one billion PayMon tokens will be issued at the initial stage.

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