The Iranian authorities have conducted the first import operation for $10 million with payment in cryptocurrency. According to local publication Tasnim, the deal took place this week.
The head of the Trade Development Organization of Iran, Alireza Peymanpak, has said local companies will begin to widely use digital assets and smart contracts in international trade in September.
The government of the Middle Eastern country approved in 2020 a mechanism for paying for imports using Bitcoins received by the central bank mined by local miners.
Elliptic analysts concluded last year that Iran accounts for 4.5% of all BTC mining. Cryptocurrencies allow the country to bypass sanctions and buy imported goods.