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Jamie Redman

Iran Reportedly Launches "Hormuz Safe" Bitcoin Maritime Insurance, Targets $10B a Year

Iran's Ministry of Economic Affairs and Finance was reported to have launched a bitcoin-settled maritime insurance initiative called Hormuz Safe on May 16, 2026. The program is positioned to cover cargo transiting the Persian Gulf and the Strait of Hormuz, with state media projecting more than $10 billion in annual revenue while key technical and legal details remain undisclosed.
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