Iran Allows Arms Purchases via Cryptocurrency, Serving Clients in 35 Countries
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Cryptocurrency Arms Trade: Iran, through its state-backed arms export agency Mindex, is allowing other countries to purchase military equipment, including Emad ballistic missiles and Shahed drones, using cryptocurrency, marking one of the first instances of a nation openly accepting crypto for military transactions.
- Broad Client Base: Mindex claims to serve clients in 35 countries, offering a range of military gear including cruise missiles and small arms, indicating Iran's active role in the international arms market and its potential for foreign military cooperation.
- Sanction Evasion Strategy: The Mindex website operates under U.S. Treasury sanctions, providing a digital purchasing process that highlights Iran's capability to circumvent international sanctions, which may provoke further punitive measures from Western nations.
- Heightened International Tensions: With Iran ranking as the 18th largest arms exporter globally in 2024, concerns among Western nations regarding its cryptocurrency transactions have intensified, especially in the context of military cooperation with Russia, potentially impacting future international relations and security dynamics.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
