Iran introduced Hormuz Safe, a platform designed to insure marine cargo shipments passing through the Strait of Hormuz. The service targets local shipping companies and cargo owners, with settlements conducted in BTC.
The new service is positioned as a digital insurance platform for maritime transportation. The launch was reported by Fars News and other media outlets affiliated with Iranian authorities. At the time of publication, the official Hormuz Safe website was either unavailable or accessible only to users within Iran.
According to reports published in the media, Hormuz Safe provides insurance coverage for cargo transported through the Strait of Hormuz and the Persian Gulf, while payouts and transaction verification are carried out using the Bitcoin blockchain.
The platform provides:
- cryptographically verifiable receipts;
- instant BTC settlements;
- a full set of bills of lading.
The platform is also aimed at accelerating settlements and reducing dependence on traditional banking infrastructure. The project description notes that insurance payouts will also be processed via blockchain payments.
Special emphasis is placed on insuring transit risks in the Strait of Hormuz, considered one of the world’s most strategically important maritime corridors. A significant share of global oil and liquefied natural gas supplies passes through the region.
Iran continues expanding its use of crypto tools amid military tensions with the United States and Israel, sanctions-related restrictions, and difficulties with international settlements. According to analysts, in 2025, the Central Bank of Iran (CBI) accumulated at least $507 million in USDT stablecoins, using them as an alternative instrument for stabilizing the national currency exchange rate and bypassing international sanctions.
