Iran launches Hormuz Safe to settle shipping insurance premiums and claims in Bitcoin

Iran has launched a Bitcoin-settled shipping insurance program called Hormuz Safe under the Ministry of Economy and Financial Affairs, enabling vessel operators to pay premiums and receive claims fully in BTC once on-chain confirmation occurs. The initiative targets transits through the Strait of Hormuz, a chokepoint that handles roughly 20% of global seaborne crude, and is framed as a sovereign settlement loop that avoids SWIFT and USD rails. Watchers also raised questions over whether international shipping firms will use the service publicly and how sanctions enforcement could respond.