The Central Bank of Iran received over $500 million in USDT last year to support its currency exchange rate.
Research by blockchain intelligence firm Elliptic indicates that the Central Bank of Iran acquired over $500 million in USDT last year. All confirmed USDT has since left wallets linked to Iran, and the report suggests the Central Bank used this stablecoin to back the price of the Iranian rial. Tom Robinson, co-founder and chief scientist at Elliptic, stated that leaked documents detail purchases made through an entity called Modex, which he believes may be a cryptocurrency broker willing to transact with the Iranian government. (Decrypt)
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