Iran is easing foreign exchange controls, allowing businesses to settle cross-border trade using digital assets such as Bitcoin and USDT. This follows continued tightening of U.S. sanctions, which have restricted traditional international payment channels and increased the difficulty for businesses to process payments through banks.
Enterprises can use it directly for trade settlement.
Reports indicate that Iran's central bank has eased certain foreign exchange restrictions. Exporters can now repatriate overseas earnings through local cryptocurrency exchanges. Businesses can also directly use export earnings to pay for imported raw materials and goods, without first routing them through the government-controlled foreign exchange system.
This means that import and export businesses have greater flexibility in fund allocation. For merchants that struggle to use correspondent banks and international banking networks, crypto assets provide an alternative settlement channel.
USDT may become a more commonly used tool
Amid ongoing depreciation of Iran’s local currency, dollar-pegged stablecoins may be more appealing to traders. The report notes that the Iranian rial has fallen below 2 million rials per U.S. dollar on the open market, with inflation also remaining high.
Compared to holding local currency, stablecoins like USDT are more convenient for preserving value and better suited for short-term cross-border payments. In addition to stablecoins, Bitcoin is also included in the range of usable options.
- Approximately $10 billion in crypto assets flowed through Iran in 2025.
- Elliptic estimates that Iran accounts for approximately 4.5% of global Bitcoin mining.
- Available assets include digital assets such as Bitcoin and USDT.
The United States has targeted the relevant channels.
However, this approach could also attract increased regulatory pressure. The report noted that U.S. Treasury Secretary Scott Bessent has warned that digital assets could become one of the next targets for U.S. pressure on Iran.
In June of this year, the U.S. Department of the Treasury sanctioned Nobitex, Iran’s largest cryptocurrency exchange, accusing it of assisting in sanctions evasion. As more Iranian businesses turn to cryptocurrency settlements, the external scrutiny risk for related exchanges, banks, and intermediaries may also increase.