Iran turns to crypto for export payments amid sanctions: FT

Iran’s central bank has reportedly eased foreign-exchange controls and tolerated cryptocurrency use for export payments as businesses seek alternatives to conventional banking channels restricted by U.S. sanctions. Summary Iran’s central bank reportedly tolerates cryptocurrency settlement as exporters seek alternatives to restricted banking channels. USDT is reportedly the most commonly used cryptocurrency for Iranian cross-border commercial payments by businesses. TRM Labs attributed approximately $9.9 billion in cryptocurrency volume to Iran during 2025 overall activity. U.S. sanctions block Iranian digital asset exchanges and may expose foreign counterparties to penalties too. Tether froze $344 million in USDT linked to sanctioned Iranian wallets during April 2026 enforcement. Iranian companies can receive cross-border payments through USDT, Bitcoin and other digital assets, the Financial Times reported on Sept. 9, citing people familiar with the matter. USDT is reportedly the most widely used asset. “Receiving export payments in crypto has now become completely normalized,” an executive at a government-linked company told the publication. The executive was not identified, and t...