Breaking 🚨 : Iran’s central bank has quietly built a large position in the US dollar stablecoin USDT, according to new findings from blockchain analytics firm Elliptic.
Elliptic says it identified a network of crypto wallets linked to the Central Bank of Iran. These wallets were used to acquire at least $507 million worth of USDT. The purchases took place mainly in April and May 2025 and were paid for using Emirati dirhams.
Researchers believe the true total could be higher. The estimate only includes wallets that Elliptic could link to the central bank with high confidence.
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