Iran's Central Bank Acquires Over $500 Million in USDT to Stabilize Economy

Source: Coinspaidmedia Original Title: Iran’s Central Bank Acquires Over $500 Million in USDT to Stabilize Economy Original Link: In 2025, the Central Bank of Iran accumulated at least $507 million in USDT stablecoins, using them as an alternative tool to stabilize the national currency exchange rate and circumvent international sanctions.

According to a study by blockchain analytics firm Elliptic, the Central Bank of Iran (CBI) purchased at least $507 million worth of dollar-pegged USDT stablecoins. These findings are based on an analysis of blockchain transactions and a network of crypto wallets linked to the regulator. The actual transaction volume may be higher, as the study only included addresses whose affiliation with the CBI was confirmed with a high degree of confidence.

Elliptic reports that the first major USDT purchases took place in April and May 2025, with settlements conducted in UAE dirhams. Until early June 2025, most of the stablecoins were sent to Nobitex, Iran's largest cryptocurrency exchange, where USDT can be stored, exchanged, or sold for Iranian rials. This points to attempts by the authorities to inject dollar liquidity into the domestic market and curb the depreciation of the national currency.

Iran's economic situation at the time was extremely unstable --- over eight months, the rial lost nearly half its value, reaching a historic low against the U.S. dollar. Analysts believe the CBI may have used USDT to buy rials on the domestic market, effectively carrying out currency interventions via digital assets, as access to traditional foreign currency reserves is limited by sanctions.

After June 18, 2025, the flow of funds changed. This coincided with a hacking attack on Nobitex, during which around $90 million in crypto-assets were stolen. Following the incident, USDT began moving through cross-chain bridges from TRON to Ethereum, and was then converted and transferred via decentralized and centralized platforms. This process continued until the end of 2025.

The report also notes that Iran is building a "sanctions-proof" financial infrastructure, using USDT as a digital analogue of dollar accounts outside the traditional banking system. This model allows the country to conduct foreign trade settlements and repatriate export revenues without the risk of funds being blocked.

At the same time, the transparency of blockchains makes such operations traceable. In particular, on June 15, 2025, stablecoin issuer Tether froze a number of wallets linked to the CBI, resulting in the blocking of ~37 million USDT. This demonstrates that even digital assets remain vulnerable to sanctions enforcement.

According to analysts, from January to July 2025, the volume of cryptocurrency transactions in Iran totaled $3.7 billion, down 11% compared to the same period in 2024.