According to Cryptobriefing, Iran has launched a state-backed digital marine insurance platform called Hormuz Safe. This platform issues marine insurance policies for ships passing through the Persian Gulf and the Strait of Hormuz, with settlements made via Bitcoin and other cryptocurrencies. Supported by Iran's Ministry of Economic Affairs, the initiative aims to bypass SWIFT and Western intermediaries, reducing reliance on traditional financial infrastructure. Supporters within the Iranian government estimate that if the platform captures a significant share of the Persian Gulf shipping insurance market, revenues could exceed $10 billion. However, the platform faces challenges such as gaining international recognition and the risk of U.S. secondary sanctions. Initial clients may be limited to ships already operating in the sanctions gray zone. https://(wublock123.com)/news/iran-launches-bitcoin-settled-marine-insurance-platform-hormuz-safe-61223