Elliptic Reveals Iran's $507 Million USDT Acquisition

2026-01-22 00:18

Blockchain intelligence firm Elliptic disclosed on January 21, 2026, that the Central Bank of Iran has acquired at least $507 million in USDT over the past year. According to leaked documents, part of these funds were paid in UAE dirhams during April and May 2025 through an entity named Modex. Elliptic noted that the USDT was primarily used to support the Iranian rial's exchange rate and settle international trade, with significant amounts flowing to Iran's largest crypto exchange, Nobitex.

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