Safe

insurance

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Passage

Although there’s no clear resolution in sight for the ongoing war between the US and Iran, and the impact on crypto markets has been predominantly negative, new reports have doubled down that passage through the Strait of Hormuz could involve bitcoin.
Citing new information from the semi-official Fars News Agency, Walter Bloomberg indicated that Iran has introduced a BTC-settled insurance service for vessels passing through the Hormuz.
<blockquote class="twitter-tweet">
 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… <a href="https://t.co/FyOmWL32Wz" rel="noopener noreferrer nofollow">pic.twitter.com/FyOmWL32Wz</a>
 — *Walter Bloomberg (@DeItaone) <a href="https://twitter.com/DeItaone/status/2056352997165216159?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 18, 2026</a>
</blockquote>
This Hormuz Safe is designed to cover ships transiting the strategic waterway and could generate over $10 billion in revenue, some sources added.
The Kobeissi Letter <a href="https://x.com/KobeissiLetter/status/2056354098794914167" rel="noopener noreferrer nofollow">added</a> that the service will be for “Iranian shipping companies and cargo owners.” The shipment will be covered from the moment of confirmation, and a signed receipt will be given to the owner, read the reports.
Recall that previous reports from over a month ago <a href="https://cryptopotato.com/btc-surges-toward-73k-as-iran-reportedly-demands-bitcoin-for-hormuz-passage/" rel="noopener noreferrer nofollow">claimed</a> that Iran planned to charge passing ships with up to $2 million in bitcoin. The new update didn’t shed any light on that particular matter, as it remains unclear if the insurance service will be charged in addition to tolls.
Bitcoin’s price reacted with an immediate surge after the previous report, and it’s already up by a grand since its local low charted earlier today. BTC now trades at $77,700 after it <a href="https://cryptopotato.com/hype-defies-altcoin-crash-as-btc-dips-below-77k-market-watch/" rel="noopener noreferrer nofollow">dipped</a> below $76,600 earlier.
The post <a href="https://cryptopotato.com/iran-reportedly-launches-bitcoin-based-shipping-insurance-for-hormuz-passage/" rel="noopener noreferrer nofollow">Iran Reportedly Launches Bitcoin-Based Shipping Insurance for Hormuz Passage</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Iran Reportedly Launches Bitcoin-Based Shipping Insurance for Hormuz Passage

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