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Recent moves by the Iranian government to Bitcoin for oil tolls as gold overtakes US dollar assets in global central bank reserves signals a “shift away from dollar-based systems,” according to Fidelity Digital Assets.
Tehran's <a href="https://cointelegraph.com/news/iran-crypto-ships-strait-hormuz" rel="noopener noreferrer nofollow">acceptance of BTC for oil shipments</a> passing through the Strait of Hormuz represents the emergence of “alternative settlement mechanisms,” according to the company’s just-released "Six Key Trends Shaping Digital Assets in 2026" <a href="https://www.fidelitydigitalassets.com/research-and-insights/6-key-trends-shaping-digital-assets-2026" rel="noopener noreferrer nofollow">report</a>.&nbsp;
Accepting Bitcoin for shipping toll payments is evidence that <a href="https://cointelegraph.com/news/bitcoin-community-iran-crypto-toll-oil" rel="noopener noreferrer nofollow">the biggest cryptocurrency could replace the US dollar</a> as the global reserve currency because of its neutral, confiscation-resistant and decentralized properties, supporters of BTC say.
At the same time, central banks' demand for gold remains “strong” despite its 20% decline from the all-time high of about $5,600 per ounce reached in January. The report said:
<blockquote>
 “Gold’s performance and continued central bank demand are broadly aligned with our initial thesis, while the anticipated follow-on outperformance from bitcoin has yet to materialize.”
</blockquote><img alt="Fidelity Digital Assets highlights 'growing evidence' of shift from dollar-based systems" height="790" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-05-28-at-50716-pm.png" width="1218">
Gold overtakes US dollars in central bank reserves. Source: <a href="https://www.kitco.com/opinion/2026-05-11/gold-overtakes-dollar-reserves-global-trust-shifts" rel="noopener noreferrer nofollow">Kitco</a>
Related: <a href="https://cointelegraph.com/news/us-law-firm-motion-redistribution-344m-usdt-iran" rel="noopener noreferrer nofollow">US law firm files motion requesting redistribution of $344M USDt linked to Iran</a>
<h2 id="iran-considers-an-insurance-model-for-oil-ships-paid-in-bitcoin">Iran considers an insurance model for oil ships paid in Bitcoin</h2>
In May 2025, Iranian media reported that the government of Iran was considering a <a href="https://cointelegraph.com/news/iran-mulls-platform-for-ships-transiting-strait-of-hormuz-to-pay-in-bitcoin-report" rel="noopener noreferrer nofollow">maritime shipping insurance model </a>for oil vessels crossing the Strait that would be payable in Bitcoin and “settled at the speed of blockchain.”
“Under the Economy Ministry's plan, managing the Strait through an insurance framework would enable the issuance of various marine insurance policies as well as certificates of financial responsibility,” <a href="https://farsnews.ir/Rahgozar_b/1778916889907171744/Irans-Economy-Ministry-Proposes-Insurance-Based-Model-to-Manage-Strait-of-Hormuz" rel="noopener noreferrer nofollow">according</a> to the state-run Fars News agency.<img alt="Fidelity Digital Assets highlights 'growing evidence' of shift from dollar-based systems" height="1260" src="https://s3-images.ctmedia.io/media/content/screenshot-2026-05-28-at-50916-pm.png" width="958">
Source: <a href="https://x.com/Dennis_Porter_/status/2056108303663468549" rel="noopener noreferrer nofollow">Dennis Porter</a>
In April 2026, the Iranian government announced it would accept oil shipping tolls in Bitcoin, US dollar-pegged stablecoins and Chinese yuan.
Later that month, US authorities<a href="https://cointelegraph.com/news/united-states-freeze-crypto-iran" rel="noopener noreferrer nofollow"> froze $344 million in stablecoins</a> linked to Iran’s government and the Iranian Revolutionary Guard Corps (IRGC).
Despite the ability of US officials to freeze and confiscate stablecoins, Tether’s USDt dollar-pegged token continues to <a href="https://cointelegraph.com/news/iran-btc-strategic-usdt-dominate-oil-tolls" rel="noopener noreferrer nofollow">dominate oil shipping fees</a>, according to Sam Lyman, the head of research at digital asset advocacy organization Bitcoin Policy Institute (BPI).
Magazine: <a href="https://cointelegraph-magazine.com/china-stockpiling-gold-yaun-global-reserve-us-dollar/" rel="noopener noreferrer nofollow">Is China hoarding gold so yuan becomes global reserve instead of USD?</a>

Fidelity Digital Assets highlights 'growing evidence' of shift from dollar-based systems

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