Iran's Central Bank Approves "PayMon" of Gold-Based Staple Coins.

Asia Crypto reported, Iran's central bank on Tuesday approved the issue of the "PayMon," a gold-based staple that has been under development in Iran since earlier.

The PayMon, issued by Iran's central bank, is seen as a token for Iran's avoidance of economic sanctions from the United States and the European Union, and Iran's domestic FinTech company, Kuknoos, and the government are working together to develop it.

The virtual currency "PayMon" project involves Iran's domestic virtual currency exchange and four major banks - Bank Mellat, Bank Melli Iran, Bank Pasargad and Persian Bank - and is apparently intended to build an international money transfer platform that has been turned into SWIFT.

"PayMon" is Iran's own virtual currency, but it is valued by gold, which is equivalent to other virtual currencies as a function. It appears that it is being planned to maximize the shelter of assets being frozen by the United States.

The news seems to be speeding up the development of virtual currencies amid imminent risks such as the detention of oil carriers in the U.S. and the U.K., drawing attention to changes in the Middle East such as the U.S. and Britain.

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