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- Iran explores cryptocurrency payments for exporting advanced military systems.
- Mindex targets foreign governments with crypto-enabled arms purchase channels.
Iran, through its Ministry of Defense Export Center (Mindex), has publicly stated its readiness to accept cryptocurrency payments for the purchase of military weapons systems. It’s being introduced in addition to rial payments and any barter terms that may be agreed upon, allowing purchasers more flexibility in how they transact.
Furthermore, this move signals Iran’s push to widen its transaction options and maintain its military trade while reducing dependence on traditional financial systems.
Iran Expands Arms Trade Options With Crypto Payment Approach
Iran stated that its military export center has relations with dozens of countries and serves potential buyers through an online platform showcasing a wide range of modern weaponry. Furthermore, the products offered are not “lightweight.” They include ballistic missiles, combat drones, warships, and even air defense systems, which are typically found in international transactions.
Verification through archived data and technical documentation suggests that the center and its online platform are real, putting to rest any assumptions that it might be a fabricated entity.
This method allows parties wishing to transact more freely, while remaining within the legal channels of each purchasing country. On the other hand, the use of crypto, including stablecoins, in the context of military trade makes this topic feel different from the use of digital assets for ordinary commercial purposes.
There are geopolitical overtones involved, there are economic strategies at play, and one thing is quite clear: the country seems to want to demonstrate that it is not lagging behind in utilizing modern financial technology as a tool in its international trade relations.
In mid-November, we reported that Iran was exploring the use of cryptocurrency while encouraging the BRICS countries to discontinue their reliance on the US dollar. This approach was seen as providing Iran with an opportunity to maintain economic sovereignty and reduce dependence on a global financial system considered unfriendly.
In mid-September, we reported that Israel seized 187 wallets allegedly tied to Iran’s Islamic Revolutionary Guard Corps (IRGC), involving around $1.5 billion in Tether flows, with Tether later blacklisting 39 of those addresses.
Then, on June 24, we also highlighted the case of Israeli authorities arresting three individuals suspected of spying for Iran. Authorities said the individuals were compensated with digital assets, a tactic meant to keep their activities from being easily followed.
