Iran has launched a cryptocurrency PayMon, backed by gold, reported the local English-language business publication Financial Tribune.

The blockchain is the platform for the new digital currency has been provided by a startup Kuknos. Cryptocurrency is a result of cooperation Kuknos and four Iranian banks — Bank Mellat, Bank Melli Iran, Bank Pasargad and Parsian Bank.

The project intends to join Tehran Iran Fara Bourse company — operator of the OTC market of securities and other financial instruments.

According to the Director Kuknos of Valiollah Fatemi (Valiollah Fatemi), PayMon will be used for the release of the original token, backed by gold, and the company will seek to tokenservice assets and other property of banks.

Recall that last year there were reports about the development of Iran’s national cryptocurrency. In July, the issue of creating crypto-currencies to bypass the us financial sanctions was included in the agenda of the presidential administration of the country. In August on behalf of President Hassan Rouhani (Hassan Rouhani) was prepared the corresponding bill. Thus, according to the developed country’s Central Bank bill, the Iran can prohibit payments to cryptocurrency, not approved by the regulator.