Iran Seeks to Leverage Bitcoin in Strait of Hormuz Insurance Plan

The Strait of Hormuz is one of the world's most important energy chokepoints, with a significant share of global oil shipments passing through it.

Iran's economy ministry has been exploring ways to monetize its position around the Strait without imposing direct tolls on vessels. A proposed bitcoin-based insurance structure could achieve this goal.

The platform, called Hormuz Safe, would offer marine insurance policies and financial responsibility certificates for maritime cargo moving through the Persian Gulf and nearby waterways.