Iran has announced Hormuz Safe, a new Bitcoin-based maritime insurance project for ships. It is expected to cover cargo transiting the Strait of Hormuz and the Persian Gulf amid stretched geopolitical tensions. Meanwhile, crypto users have termed it a win for Bitcoin in critical oil trades.
Iran Adopts Bitcoin Strategy
The Iranian Economy Ministry is developing a new insurance template for nearby shipping routes. Local sources suggest the government is mulling settlement payments in Bitcoin to avoid sanctions and facilitate faster payments.
Specifically, it would cover vessels passing through the Persian Gulf and the Strait of Hormuz, and might extend to nearby channels. Sources familiar with the matter say that policies will be issued cryptographically and that a signed receipt will be given to the owner.
The model could generate up to $10 billion if implemented, as Iran plans to monetize those shipping routes. The Strait powers a fifth of global oil trade and remains a vital route for energy stability.
Sequel to the US-Iran war and suspended hostilities, the Islamic Revolutionary Guard Corps. (IRGC) charges tankers a dollar per barrel for smooth passage. Payments were initially settled in yuan and stablecoins.



 Now, the government aims to further expand Bitcoin payments, preventing hostile foreign nations from tracing or freezing them. In recent years, the regime has faced sanctions from the U.S. and is seeking to bypass transaction bottlenecks.
A similar play was used by several Russian entities after their invasion of Ukraine. With sanctions rolling out, institutions turned to Bitcoin and stablecoins for settlements. On the one hand, it points to wider adoption as more governments and institutions embrace the asset class, but on the other hand, the move reinforces Western governments’ call for greater scrutiny.
In recent months, Democrat lawmakers in the United States have argued against crypto payments as a means to evade sanctions and facilitate illicit finance. This came on the back of the White House’s positive leaning towards the market.
The Trump administration doubled down on promises to make the country a major artificial intelligence (AI) hub and the world’s Bitcoin capital. Although asset prices remain largely unstable, stakeholders hold on to wins in rule clarity, government backing, and broader institutional adoption.
At the time of writing, the Bitcoin price slipped under $77,300 as traders monitor macroeconomic conditions. Whale volumes are building gradually compared to the first quarter, marred by sharp liquidations.
