Bitcoin (BTC USD) shipping insurance Iran explained: Amid escalating US-Iran tensions, Iran has introduced a Bitcoin-based shipping insurance system named 'Hormuz Safe' for vessels in the Strait of Hormuz, signaling a potential revenue generation of up to $10 billion despite skepticism over its feasibility.

Iran launched the Hormuz Safe platform offering digital maritime insurance with crypto payments for vessels transiting the Strait of Hormuz amid soaring premiums.

Iran has launched a Bitcoin-based insurance service designed to cover maritime cargo shipments transiting the Strait of Hormuz.