Iran just turned one of the world’s most important shipping chokepoints into a geopolitical loyalty program. And it takes Bitcoin.
Iran’s ambassador to China, Abdolreza Rahmani Fazli, announced during the World Peace Forum in Beijing on July 4 that China and other allied nations will receive reduced transit fees for navigating the Strait of Hormuz. The waterway has become what Tehran now classifies as a matter of “national security” following a four-month conflict involving the United States and Israel.
The toll booth at the center of global trade
Tehran is reportedly considering imposing tolls on vessels traversing the strait, with fees rumored to reach up to $2 million per ship. Iran has signaled it will accept payments in Bitcoin and USDT, the Tether stablecoin. The fee reductions for China and allied nations function as a tiered pricing system. Iran plans to collaborate with Oman to ensure smooth transit operations under the new arrangement.
Why crypto fits Iran’s playbook
