In the midst of increased economic sanctions, the enduring impacts of the COVID-19 pandemic, and episodes of civil unrest, Iranians have, in greater and greater numbers, embraced cryptocurrencies despite falling token prices.
In 2022, incoming crypto volume to Iranian exchanges approached USD 3 billion, according to research by TRM Labs, which monitors public transaction data for over 100 exchanges with active websites in Iran. Nobitex, an Iranian cryptocurrency exchange, has provided the majority of cryptocurrency services to Iranians since 2017. Throughout 2022, TRM Labs identified that Nobitex processed 87% of all Iranian incoming transactions across multiple blockchains including Bitcoin, Tron, Ethereum, and many more.
In August 2023, Nobitex, Iran’s largest cryptocurrency exchange, launched two new DeFi services. The services include cryptocurrency wallet, Locket Wallet, and the decentralized exchange Nobidex. Nobidex is the first decentralized exchange built and launched within Iran. Currently, Nobidex supports transactions on the Arbitrum blockchain, trading WBTC/USDT, LINK/USDC, ARB/USDT, WETH/USDT and WETH/USDC currency pairs. In the future, Nobidex is expected to support other blockchains such as Ethereum, Binance Smart Chain, Polygon, Tron, and more. Nobidex allows users to access its platform by connecting cryptocurrency wallets such as Trust Wallet, MetaMask, and Locket Wallet.
Locket Wallet is a non custodial wallet utilized as a mobile application or extension within internet browsers such as Google Chrome and Firefox. Locket Wallet alleges to provide users with complete control of their cryptocurrency holdings and enhanced security. The wallet supports cryptocurrency holdings on Bitcoin, Ethereum, Tron, Binance Smart Chain, Polygon, Fantom, Avalanche, Optimism and Arbitrum blockchains.
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