Introduction: Iran’s Cryptocurrency Market Landscape

Iran’s cryptocurrency market faces unique challenges due to international sanctions and restricted access to global platforms, necessitating reliable domestic exchanges. These platforms serve as gateways for Iranians to participate in the global digital economy. Analyzing their performance, features, and position is of paramount importance.

Aban Tether Exchange, launched in 2018 (1397 Persian calendar), is a pioneer and key player in Iran’s crypto ecosystem. Its initial goal was to facilitate Tether (USDT) trading. Tether, a stablecoin, plays a vital role in preserving asset value against market volatility and enabling capital flow in and out of the crypto market. Over time, with growing demand for diversity in Iran’s crypto market, Aban Tether significantly expanded its services and now supports a wide range of cryptocurrencies. The platform claims to host over 2.5 million users, though some sources cite over 900,000 users. Despite this discrepancy, both figures reflect a large user base and thousands of daily transactions. Aban Tether focuses on providing a platform with high security, fast transactions, and strong support for Iranian users.

Discrepancies in user statistics may seem like an informational weakness but reflect a common challenge in less-regulated markets or developing ecosystems, where full transparency in reporting may not always exist. Nonetheless, both numbers place Aban Tether among popular Iranian exchanges, highlighting its significant popularity within Iran’s crypto community. Its growth from focusing on Tether to supporting hundreds of cryptocurrencies signifies a strategic evolution from a specialized platform to a comprehensive trading ecosystem. This service expansion not only addresses Iranian users’ growing need for asset diversity but also positions Aban Tether as a strong competitor against other domestic and even international exchanges (if accessible).

History and Founders of Aban Tether: Roots and Evolution

Aban Tether Exchange was established in 2018 by graduates of Sharif University of Technology, one of Iran’s most prestigious institutions in engineering and technology. This academic background implies a strong scientific and technical foundation in the founding team, which is highly effective in developing complex and secure infrastructure for a cryptocurrency exchange. The initial goal, as the name Aban Tether suggests, was to facilitate Tether (USDT) trading. Tether, a stablecoin, is a critical tool for preserving asset value against market volatility and enabling capital flow in the crypto market.

With rising demand for diverse cryptocurrencies in Iran, Aban Tether rapidly expanded its services. Initially focused on Tether, it now supports over 500 cryptocurrencies. This diversity, compared to 100 cryptocurrencies cited in older sources, reflects the platform’s significant growth and dynamism in meeting market needs. This expansion includes adding diverse trading capabilities and support for various cryptocurrency transfer networks, allowing users to conduct transactions with higher speed and lower fees. This growth has transformed the exchange from a specialized platform to a comprehensive trading ecosystem.

The main office of Aban Tether is located in Tehran, and the exchange offers in-person trading, a benefit for users preferring physical financial interactions. Aban Tether, under the trade name Aban Tabadol Arasbaran, is registered as a private joint-stock company and a knowledge-based company. This official registration enhances the exchange’s credibility and transparency within Iran’s domestic legal framework. In a country where cryptocurrency regulations are still evolving and the Central Bank does not issue official licenses for crypto exchanges, registration as a knowledge-based and private joint-stock company demonstrates Aban Tether’s deliberate effort to operate within existing frameworks and gain indirect legitimacy. This approach allows Aban Tether to function with minimal risk while assuring users they are dealing with a recognized domestic entity. Knowledge-based registration may also bring tax benefits and government support, contributing to the exchange’s sustainability and growth.

Membership in Iran’s Blockchain Association and Fintech Community underscores Aban Tether’s commitment to adhering to industry standards and collaborating with related entities in the blockchain and fintech ecosystem. These affiliations enhance the exchange’s credibility among industry stakeholders and position Aban Tether as part of a broader movement to advance financial technologies in Iran. The CEO of Aban Tabadol Arasbaran is Sehand Hamzei. The Aban Tether website domain, registered in 2019, is valid until 2031, indicating long-term planning for its operations.

Aban Tether is currently recognized as one of the popular platforms in Iran’s cryptocurrency sector. According to available data, it hosts over 900,000 users, with some sources claiming over 2.5 million users. These figures reflect a large user base and significant trust in the platform. Thousands of daily transactions indicate high user activity and adequate liquidity. This remarkable growth in user numbers and transaction volume solidifies Aban Tether’s position as a key player in Iran’s crypto market.

Key Features and Services of Aban Tether

Aban Tether Exchange has developed a range of key features and services to provide a comprehensive and user-friendly experience in Iran’s cryptocurrency market. These services, from cryptocurrency diversity to modern financial tools and comprehensive support, are designed to meet the needs of a wide range of users.

Cryptocurrency Variety and Supported Networks

A key strength of Aban Tether is the high variety of tradable cryptocurrencies on its platform. It currently supports over 500 cryptocurrencies, positioning Aban Tether among Iranian exchanges for asset diversity. This variety allows users to invest in various markets and diversify their portfolios. The Aban Tether platform provides real-time cryptocurrency price lists, 24-hour price change charts, and sections displaying the highest price increases/decreases and highest trading volumes. This information helps users make more informed trading decisions.

The exchange also supports various cryptocurrency transfer networks. This feature is crucial, as choosing the right network enables users to experience higher speed and lower fees in their transactions. New cryptocurrencies are continuously added to the list; for instance, Wormhole, Ethena, and Zeus Network were recently included, increasing the total listed currencies to over 460. This ongoing addition of new cryptocurrencies demonstrates the exchange’s dynamism and commitment to keeping pace with global crypto market trends.

Trading Platforms

Aban Tether offers two main trading platforms to cater to diverse user needs:

• Instant Trading Platform (OTC): Designed for quick and simple cryptocurrency trading, this platform provides access to over 400 cryptocurrencies for instant buying and selling. Users can quickly and easily buy or sell desired cryptocurrencies and use Aban Tether’s dedicated wallet for storing and transferring assets. Options for order placement, such as instant purchases, stop-loss orders, and limit orders, are available, allowing users to implement trading strategies with greater precision.

• Professional Trading Platform (P2P): This platform enables direct user-to-user trading, with Aban Tether acting solely as an intermediary. Cryptocurrency buy and sell prices are determined by supply and demand. The user interface resembles international exchanges, and currently, professional trading is active for Bitcoin (BTC) and Ethereum (ETH) in IRR. Plans to include other cryptocurrencies like Shiba, Fantom, and Dogecoin are in place. This platform suits experienced traders seeking greater control over price and timing.

Notably, sources explicitly state that Aban Tether does not offer futures markets or margin trading, common features in international exchanges. Additionally, one source noted the temporary suspension of the trading section in September 2024 due to infrastructure upgrades, but newer sources confirm the professional platform is now active, indicating resolution of the issue or completion of infrastructure.

Comprehensive Analysis of Aban Tether Exchange: Features, Security, Fees, and Position in Iran’s Crypto Market

Modern Financial and Credit Tools: Beyond a Traditional Exchange

Aban Tether Exchange transcends the role of a traditional exchange by offering innovative financial and credit tools, transforming into a comprehensive financial ecosystem. These services are particularly appealing in Iran, where access to traditional loans is challenging.

Aban Loan

Aban Loan allows users to obtain rial-based loans up to 40 million IRR without a guarantor. The loan is provided online and quickly with flexible terms. Users must provide cryptocurrencies like Bitcoin, Litecoin, Ethereum, or others as collateral. The repayment period ranges from 3 to 9 months, with a 23% interest rate.

Trading Credit

Trading Credit enables users to trade with leverage. It includes concepts like credit wallet (user funds plus credit), collateral (non-withdrawable cryptocurrencies bought with credit), warning threshold (loss alert point), and liquidation (automatic position closure on significant losses). Users bear the liquidation risk, and fees are charged at maturity.

Goods Purchase Credit

This scheme allows users to pledge cryptocurrencies to gain credit for purchasing digital goods, gold, appliances, or covering travel expenses from Iran’s largest online store. Users retain their crypto assets while benefiting from potential value increases. This service is offered without fees.

These innovations reflect Aban Tether’s deep understanding of Iranian users’ needs and its focus on creating added value. This model drives user attraction, loyalty, and increased trading volume.

Other Features and Facilities

Aban Tether provides diverse features to enhance user experience and accessibility.

Dedicated Mobile App

A mobile app for Android and iOS enables trading anytime, anywhere, addressing earlier reports of no dedicated app.

Dedicated Wallet

A dedicated wallet within the exchange eliminates the need for external wallets, simplifying digital asset management.

Internal Crypto Transfers

Internal crypto transfers between user accounts are fee-free, beneficial for frequent transactions.

Educational Resources

Educational resources like articles, guides, and videos enhance user knowledge and support informed trading decisions.

Referral Program

The referral bonus program credits 30% of referred users’ transaction fees (excluding Tether) to the referrer’s Tether balance daily, an effective strategy for attracting new users.

In-Person Trading

In-person trading at the Tehran office caters to users preferring physical interactions or in-person consultations.

These services position Aban Tether as a comprehensive and competitive platform. The mobile app and fee-free transfers boost liquidity.

Summary Table of Features and Services

Security and Verification Processes: Protecting Assets

Security is critical for crypto exchanges, especially in Iran. Aban Tether implements robust security measures and verification processes.

Infrastructure Security Measures

• Cold Wallets: Most user assets are stored in offline cold wallets, safe from cyberattacks.

• Data Encryption: Sensitive data like passwords and transaction details are encrypted with advanced algorithms.

• Secure Infrastructure: A distributed cloud infrastructure resists DDOS attacks, monitored 24/7.

• 24/7 Monitoring: User behavior analysis detects suspicious activities like unusual logins.

• Bug Bounty Events: Participation in bug bounty events (latest in March 2025) identifies vulnerabilities.

• No International Insurance: Due to sanctions, no international insurance exists, but internal measures mitigate risks.

KYC/AML Verification

Mandatory KYC prevents money laundering (AML) and illegal activities, enabling account recovery and access control.

Verification Stages

• Initial Registration: Enter mobile number and receive verification code.

• Identity Information: Submit national ID photo, name, surname, birth date, and national ID number.

• Selfie: Provide a clear selfie with ID card and handwritten commitment.

• Banking Details: Submit IBAN and bank account in the user’s name.

• Foreign Nationals: Provide passport, residence permit, and FIDA code.

Verification takes hours to 2 business days, with registry checks to prevent fake accounts.

Verification Stages Table

User Security Recommendations

• Strong Password and 2FA with Google Authenticator.

• Secure Device/Network: Use personal devices and reliable VPNs.

• Avoid Phishing: Manually access the website and verify HTTPS.

• Login History Check: Monitor IP and login locations.

• Address Whitelist: Define trusted wallet addresses for withdrawals.

Withdrawal Restrictions

• 72-Hour Rule: Withdrawal delays post-rial deposit for security.

• 2-Hour Delay: Crypto withdrawal delays for account protection.

Fee Structure: Transparency and Competitiveness

Fees are a key factor in choosing an exchange. Aban Tether offers a tiered and transparent structure.

Transaction Fees

• Rial-Based (OTC):

  • Under 50 million IRR: 0.3%

  • 50–100 million IRR: 0.25%

  • Over 100 million IRR: 0.2%

• Tether-Based: 0.3% fixed.

• Tether Trading: Zero fees, a competitive advantage.

Fees are deducted from the requested asset. Past user confusion over fees was clarified by Aban Tether.

Deposit and Withdrawal Fees

• Rial Deposits: No fees.

• Rial Withdrawals: 1,000–4,000 IRR.

• Crypto Deposits: No fees.

• Crypto Withdrawals: Dependent on blockchain network fees.

Rial withdrawals before 6 PM settle same-day.

Fee Comparison

Aban Tether is competitive at higher volumes, with zero Tether fees as a key advantage.

Customer Support and User Experience

Customer support and user experience are vital for satisfaction.

Support Channels

24/7 support via online chat, phone (021-91009682), and email, with phone support from 9 AM to midnight.

User Feedback

Strengths:

• Fast settlement.

• Responsive support.

• Reliable support.

• High security.

• Quick verification.

Weaknesses:

• Inconsistent support.

• Account suspensions.

• Transaction issues.

• High fees for some coins.

• Slow website.

User Interface and Liquidity

A user-friendly interface and high liquidity with fast transactions make Aban Tether appealing.

Regulatory and Legal Status

The legal status of cryptocurrencies in Iran is gray.

Legal Framework

Crypto trading is not officially legal but not criminalized. Mining is legal with a permit.

No Central Bank License

Crypto exchanges operate unofficially but must comply with Central Bank regulations.

Official Registration

Aban Tether, registered as a knowledge-based company, enhances transparency and legitimacy.

AML/KYC Compliance

Mandatory KYC and AML compliance ensure security and legitimacy.

Violation Handling

• Account suspension for violations.

• Asset sales for debt settlement.

• Account management in special cases.

Advantages and Disadvantages

Advantages

• Crypto variety.

• Fast transactions.

• Strong security.

• Innovative tools.

• 24/7 support.

• User-friendly interface.

• Zero Tether fees.

• Mobile app.

Disadvantages

• No futures/margin.

• Opaque trading volume.

• Inconsistent support.

• No international insurance.

• Withdrawal restrictions.

Conclusion and Recommendations

Aban Tether stands out with crypto variety, security, and innovative services.

Recommendations

• Complete KYC.

• Follow security practices.

• Understand withdrawal limits.

• Compare fees.

• Review user feedback.

• Transfer assets to personal wallets.

Future Outlook

Aban Tether’s innovation and domestic legitimacy position it to shape Iran’s crypto market future.