Iran launches "Bitcoin-settled" Strait of Hormuz shipping insurance Hormuz Safe, estimated to bring in tens of billions of dollars

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According to foreign media reports, in order to circumvent international economic sanctions, Iran has launched a Bitcoin (BTC)-settled shipping insurance service called "Hormuz Safe" targeting the "Strait of Hormuz" — the chokepoint of global crude oil transportation. The program is reportedly expected to generate over $10 billion in revenue for Iran, not only symbolizing a new method for sanctioned nations to bypass the US dollar system, but also indicating that Iran is further tightening its control over this critical waterway. (Background: Pakistan relays message: Iran's revised ceasefire proposal has been delivered to the US) (Context: Trump threatens to resume military action against Iran, "Your time is running out," will hold a joint war meeting with Israel on Tuesday) Under the dual pressure of geopolitical tensions and international sanctions, Iran is attempting to establish entirely new financial rules in strategic waters through cryptocurrency. According to the well-known financial news account Walter Bloomberg (@DeItaone), citing the latest report from Iran's semi-official Fars News Agency, Iran has officially launched a shipping insurance service settled in Bitcoin, specifically targeting vessels transiting through the "Strait of Hormuz." IRAN LAUNCHES BITCOIN-BASED SHIPPING INSURANCE FOR HORMUZ Iran has introduced a Bitcoin-settled insurance service for vessels passing through the Strait of Hormuz, according to the semi-official Fars News Agency. The "Hormuz Safe" system is reportedly designed to cover ships… pic.twitter.com/FyOmWL32Wz — *Walter Bloomberg (@DeItaone) May 18, 2026 "Hormuz Safe" System: Estimated to Generate $10 Billion in Revenue This new system, named "Hormuz Safe," aims to provide commercial vessel transit insurance coverage for this strategic waterway — the world's most important and a vital artery for massive crude oil transportation. The report notes that although Iranian officials have not yet announced specific operational details, the service is expected to bring Iran substantial revenue exceeding $10 billion. Behind this initiative lie Iran's far-reaching strategic considerations: - Circumventing international sanctions: By settling through decentralized cryptocurrencies such as Bitcoin, Iran can effectively bypass the traditional global financial system and banking settlement networks dominated by the US dollar (such as SWIFT), avoiding fund freezes or scrutiny. - Strengthening control over the strait: Against the backdrop of intensifying global geopolitical conflicts, Iran is attempting to tighten its control over shipping routes in the Strait of Hormuz, and through this further "formalize" the fees and transit mechanisms for commercial vessels. Using Bitcoin as a settlement tool for fees and insurance on a nation-level strategic waterway represents a rare and significant real-world application of cryptocurrency in international geopolitical maneuvering. The market is closely watching the subsequent reactions of the international community (especially the United States) to this mechanism, as well as whether global shipping companies will comply and pay.

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