IRAN LAUNCHES BITCOIN-BASED SHIPPING INSURANCE FOR HORMUZ Iran has introduced a Bitcoin-settled insurance service for vessels passing throu…
IRAN LAUNCHES BITCOIN-BASED SHIPPING INSURANCE FOR HORMUZ
Iran has introduced a Bitcoin-settled insurance service for vessels passing through the Strait of Hormuz, according to the semi-official Fars News Agency.
The “Hormuz Safe” system is reportedly designed to cover ships transiting the strategic waterway and could generate over $10B in revenue, though no operational details were provided.
The move comes as Iran tightens control over Hormuz shipping routes amid ongoing geopolitical tensions, sanctions pressure, and efforts to formalize fees and passage mechanisms for commercial vessels.
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