- The public launch of the Digital Rial pilot program begins on Kish Island.
- The public launch of the CBDC pilot program aims to test transaction efficiency and enhance payment security.
- The success of the pilot program could lead to a nationwide expansion of Digital Rial, transforming the way payments are made in Iran.
Iran’s ambitious project to introduce the Digital Rial, a central bank digital currency (CBDC), is set to take a pivotal step after the Central Bank of Iran (CBI) announced that it would open the pilot program to the public.
This move by the Central Bank follows a successful testing phase between 2021 and 2023 (1400-1401 according to the Solar Hijri calendar) and a successful pre-test between 2023 and 2024 (1402-1403 according to the Solar Hijri calendar). and after limited testing.
Digital Rial Pilot Program Open to the Public
From June 21, the first day of the Solar Hijri month of Tir, Digital Rial is ready to launch a pilot program on Kish Island. This will be an important milestone as the pilot phase transitions from a controlled trial to a broader rollout phase, allowing banking network customers and tourists in designated regions to utilize Digital Rial for their transactions.
The pilot program aims to demonstrate the practicality and efficiency of Digital Rial in real-world scenarios and provide a seamless alternative to traditional banking transactions and payment methods.
Users can conveniently conduct transactions through digital wallets without the need for physical cash or traditional bank cards. Transactions are expected to become faster, improving overall payment security and operational transparency.
Digital Rial is also poised to strengthen Iran’s digital economy by fostering innovative payment solutions tailored to domestic needs, according to a report the central bank began considering in 2018. This is consistent with the broader national goal of strengthening financial infrastructure resilience and promoting the adoption of digital technologies across a range of economic sectors.
At the end of the pilot program, CBI will evaluate the results of the pilot program, and a successful outcome could pave the way for expanding Digital Rial’s accessibility beyond Kish Island, potentially transforming the way Iranians conduct everyday transactions in the digital age. can.