Nobitex

OK, and the crypto side...

A7 has been linked to Nobitex, Iran's largest digital asset exchange, which was designated in June and to transactions connected with North Korean hacks of crypto exchanges.

So it's

effectively a payment utility for whoever needs one.

Over more than seven years and sixty-plus platforms, TRM traced over three point eight four billion dollars in flows between CoinEx and sanctioned Iranian crypto entities, patterns pointing to coordination, not organic adoption.

The core relationship is with Nobitex, Iran's largest exchange.

Two point seven billion dollars in flows since twenty eighteen.

And by twenty twenty-five, CoinEx made up sixteen point three percent of Nobitex's volume, its single largest counterparty, nine times the next closest exchange.

TRM also traced sixty-seven million dollars moving from the Central Bank of Iran through CoinEx between June twenty twenty-five and June twenty twenty-six.

Sanctioned actor exposure runs deeper still.

Six million dollars tied to IRGC, plus links to Palestinian Islamic Jihad and Hezbollah, all flowing through CoinEx.

The clearest proof came f- after OFAC sanctioned Nobitex and three other Iranian exchanges on June second.