UK Prime Minister Keir Starmer on June 14 welcomed an agreement between the US and Iran aimed at ending hostilities and reopening the Strait of Hormuz, the narrow waterway that carried roughly 20% of the world’s oil and LNG shipments before conflict choked it off earlier this year.
The deal is significant on its own. But buried in the geopolitical fine print is something that should make crypto investors sit up: Iran is exploring Bitcoin-based toll platforms for Hormuz transit, with ambitions to scale those systems to around $10 billion.
What the deal actually looks like
The agreement is structured in two phases. The first focuses on stopping the fighting, reopening the strait, and delivering limited sanctions relief to Iran. Nuclear-related discussions get punted to phase two.
US President Trump announced an immediate removal of the naval blockade that had been in place since late February 2026, describing the strait reopening as “toll free.” A formal signing is anticipated around June 19.
