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Iran starts Bitcoin-backed shipping insurance
Hindustan Times Delhi
|May 19, 2026
Iran has started a Bitcoin-backed insurance service for shipping companies that want to transit the Strait of Hormuz, the semi-official Fars news agency reported, citing documents obtained from Iran's Ministry of Economy and Financial Affairs.
Dubbed Hormuz Safe, the Iranian government says it could generate more than $10 billion in revenue for the Islamic Republic, Fars reported, without giving a time frame or a breakdown of how the service would work.
Iran has effectively shut the Strait of Hormuz—a major conduit for global energy supplies and other goods — since the US and Israel began airstrikes against the country on February 28. The government and the Islamic Revolutionary Guard Corps have since been looking to formalize control over the waterway, including imposing tolls and other fees. An insurance service could be another means to raise funds.
Cette histoire est tirée de l'édition May 19, 2026 de Hindustan Times Delhi.
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