BREAKING: Iran has launched "Hormuz Safe," a Bitcoin-backed insurance service for shipping companies that want to transit the Strait of Hormuz. Details include: 1. The Iranian government says it could generate more than $10 billion in revenue from the program 2. The service will be for "Iranian shipping companies and cargo owners" 3. "The shipment will be covered from the moment of confirmation and signed receipt will be given to the owner," Iran says 4. It is unclear if this insurance service will be charged in addition to tolls, which have been as much as $2 million per ship Iran says an official website with more information is "coming soon."(The Kobeissi Letter)