Tehran, Iran – Decades of international sanctions have severely restricted Iran’s access to the global financial system, making cross-border payments difficult for individuals and businesses alike. The sanctions have only increased with the current US-Israeli war on Iran. Unable to rely on conventional banking for international transactions, many Iranians have turned to alternative channels to pay for goods and services abroad. And while each workaround channel offers a way to navigate some of the restrictions, it comes with its own costs and risks, often falling short of the security, reliability and efficiency of a functioning international banking system.
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