Iran launches crypto-based insurance platform for safe Hormuz passage: Report

❗️Hormuz Safe: Iran launches digital insurance platform for Strait of Hormuz cargo with premiums paid in Bitcoin

Iran has launched a new insurance platform called “Hormuz Safe” to provide coverage for maritime cargo passing through the Strait of Hormuz.

The platform offers marine insurance policies and financial liability certificates for shipments moving through the Persian Gulf, the Strait of Hormuz, and surrounding waterways, effectively creating an Iranian mechanism to guarantee safe passage through one of the world’s most strategically important shipping routes.

WANA reported that documents reviewed by journalists show Iran’s Ministry of Economy has been developing the initiative since early April, seeking to establish a framework in which parts of the strait’s maritime management would be handled through insurance-related services.

Officials involved in the project estimate that the platform could eventually generate more than $10 billion in revenue for Iran.

Under regulations published on the platform’s website, insurance policies are issued rapidly and include encrypted verification features. Premiums are paid in Bitcoin, and cargo is covered immediately upon payment confirmation, with a digitally signed receipt provided to the owner. The launch comes as the Strait of Hormuz remains a critical artery for global energy shipments and maritime trade.

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