Iran explores bitcoin insurance market in Strait of Hormuz
Iran is developing a new maritime insurance platform called 'Hormuz Safe' that accepts Bitcoin and stablecoin payments. This initiative is part of Iran's strategy to leverage its control over the Strait of Hormuz, a critical chokepoint for global oil shipping. The Islamic Revolutionary Guard Corps is reportedly overseeing this operation, which includes charging oil tankers a toll for transit.
- ▪The Strait of Hormuz handles about a fifth of the world's daily oil supply.
- ▪Hormuz Safe will provide coverage and safe-passage services for oil tankers using cryptocurrency.
- ▪The Islamic Revolutionary Guard Corps is central to the operation, charging approximately $1 per barrel for transit.
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<img src="https://static.cryptobriefing.com/wp-content/uploads/2026/05/18041148/tensions-flare-near-strait-of-hormuz-as-one-ship-is-seized-a-1-800x420.jpeg" alt="Iran explores bitcoin insurance market in Strait of Hormuz" class="w-full aspect-[19/10] object-cover" /> Iran explores bitcoin insurance market in Strait of Hormuz A new maritime insurance platform called 'Hormuz Safe' reportedly accepts Bitcoin and stablecoin payments as Iran weaponizes its chokepoint control over global oil shipping. Share Add us on Google by Editorial Team May. 18, 2026 The narrow waterway between Iran and the Arabian Peninsula handles roughly a fifth of the world’s daily oil supply. Now, the country that controls one side of it is reportedly building a crypto-powered toll booth.
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