Iran's Fars News reported that Iran has launched a shipping insurance platform called Hormuz Safe for the Strait of Hormuz, claiming it can settle in Bitcoin.

The platform named Hormuz Safe / هرمز سیف has started providing insurance for shipping goods through the Strait of Hormuz. A document obtained by Fars reporters shows that the Iranian Ministry of Economy has been promoting a scheme to "manage the Strait of Hormuz" through an insurance mechanism since early Ordibehesht in the Iranian calendar, which is roughly late April 2026.

This scheme can issue various marine insurance policies and financial liability certificates, with potential revenue exceeding 10 billion dollars. Fars also claims that platform rules indicate that the related insurance will be settled in $BTC, and once the goods are confirmed on the blockchain, they are acknowledged and a signed receipt is provided to the owner.

If this scheme is implemented, it could bring over 10 billion dollars in revenue to Iran.

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