Iran Launches Bitcoin Platform to Handle Hormuz Passage Insurance
Iran has introduced a new maritime insurance system that allows shipping firms to pay premiums using crypto, marking another step in the country’s broader push to reduce dependence on traditional financial networks while operating under international sanctions. The platform, named Hormuz Safe, was launched by the country’s Ministry of Economy and is aimed at vessels transporting cargo through the Persian Gulf and the Strait of Hormuz. Hormuz Safe offers marine insurance policies and digital liability certificates, allowing shipping companies to pay premiums using Bitcoin and other cryptos rather than relying on conventional banking systems such as SWIFT. The platform promotes…





