Iran unveils BTC-based maritime insurance for Hormuz transit, targets up to $10B amid sanctions concerns

Iran’s Ministry of Economy has rolled out a maritime insurance service called “Hormuz Safe” that settles in Bitcoin and targets ships transiting the Strait of Hormuz, according to reporting that cites state-linked outlets and international news agencies ^{[1] [2] [3]}.

Reports say the platform is structured to accept BTC for payments and settlements and to issue digital insurance certificates to speed processing for vessels operating in the Persian Gulf and the Hormuz corridor ^{[4] [2]}.

Iran officials are said to be targeting up to $10 billion in revenue from the service; observers note the move could test U.S. sanctions and has drawn concern from regulators and shippers amid the ongoing U.S.–Iran conflict that has disrupted the chokepoint ^{[1] [5] [3]}.

The launch of Hormuz Safe represents a state-backed application of Bitcoin in maritime insurance for a strategic shipping route, prompting attention from international regulators and market watchers ^{[1] [5]}.