Iran Launches “Hormuz Safe” Digital Insurance Platform for Strait of Hormuz Transits
Iran has introduced “Hormuz Safe,” a new digital maritime insurance platform for vessels transiting the Strait of Hormuz.
The platform, developed under the Ministry of Economy, issues marine insurance policies and financial liability certificates for cargo moving through the Persian Gulf, Strait of Hormuz, and surrounding waters. Policies are payable in Bitcoin and other cryptocurrencies, with instant blockchain settlement and cryptographically signed digital receipts.
Iranian state media announced the launch as a measure to provide coverage amid heightened tensions and elevated war-risk premiums following the 2026 Strait of Hormuz crisis. The system includes designated routes and fees for specialized services.
Shipping industry sources view the platform as a formal mechanism for Iran to generate revenue while enabling faster, sanctions-resistant transactions for participating operators.
Critics have described it as a potential protection scheme, with U.S. authorities warning that related payments could violate sanctions.
