Semi-official media reports that Iran has set up a Bitcoin-based marine insurance service for ships passing through the Strait of Hormuz

Iran’s semi-official media says the Economy Ministry has launched a marine insurance platform called “Hormuz Safe” for ships transiting the Strait of Hormuz and the Persian Gulf.

The service is reportedly designed for Bitcoin payments, signaling a push to use cryptocurrency in shipping and insurance under sanctions.

Because the Strait of Hormuz is a critical oil transport route, the move could affect global logistics and energy markets.

The plan highlights Iran’s effort to manage maritime traffic and insurance using crypto-based tools despite Western sanctions.