[Iran Launches Bitcoin-Settled Maritime Insurance Platform Hormuz Safe] According to CryptoBriefing, Iran has launched a state-backed digital maritime insurance platform called Hormuz Safe, providing maritime insurance for vessels passing through the Persian Gulf and the Strait of Hormuz, with settlements made in Bitcoin and other cryptocurrencies. The Iranian government believes that if the platform can capture a significant share of the Persian Gulf shipping insurance market, it could generate over $10 billion in revenue. Hormuz Safe aims to bypass the SWIFT network and Western intermediaries, reducing Iran's reliance on traditional financial infrastructure. The platform's biggest challenge lies in gaining international recognition, as shipowners, trading companies, or port authorities interacting with the platform may risk triggering secondary sanctions.