According to experts told Agence France-Presse, digital asset platforms were used to circumvent the sanctions imposed on the Iranian Revolutionary Guard, and also formed a financial haven for civilians affected by high inflation.
According to TRM Labs, Nubitex handled trades of approximately $5 billion between 2025 and March 2026, while Bloomberg estimated the size of the cryptocurrency market in Iran at about $7.8 billion in March.
The US Treasury Department claimed that Nobitex processed “more than 50% of Iran’s total digital asset flows during 2025.”
The platform reportedly facilitated payments related to government activities, efforts to circumvent sanctions, and transactions related to the Iranian Revolutionary Guard.
The sanctions also included two other Iranian trading platforms, “Walex” and “BitPin,” in addition to the three founders of “Nobitex” and its current CEO.
The step comes in light of Iran’s isolation from the global financial system due to the American and European sanctions imposed on it for years, while cryptocurrencies have formed a means for Iranian citizens and companies to conduct transactions abroad.
The United States and Israel launched a war against Iran in late February, which led to an escalation of violence in the Middle East, while Tehran’s retaliatory strikes targeted Washington’s regional allies.
