Iran starts Bitcoin-backed shipping insurance for Hormuz strait
Iran has launched a Bitcoin-backed shipping insurance service called Hormuz Safe for vessels transiting the Strait of Hormuz. The initiative aims to generate over $10 billion in revenue for the country amid ongoing tensions and sanctions. The service is intended for Iranian shipping companies and cargo owners, with payments settled in Bitcoin.
- ▪Iran has started a Bitcoin-backed insurance service for shipping companies in the Strait of Hormuz.
- ▪The Hormuz Safe service could potentially generate more than $10 billion in revenue for Iran.
- ▪The insurance policies will be provided for shipments passing through the Persian Gulf and surrounding waterways.
3 outlets in our directory ran this story, first to last over 20 hours. All of the coverage we found sits in one bucket: centre. That one-sidedness is itself worth noticing.
Straits Times — World files mainly under world. We currently carry 1,376 of its stories.
Opening excerpt (first ~120 words) tap to expand
Iran starts Bitcoin-backed shipping insurance for Hormuz straitSign up now: Get ST's newsletters delivered to your inboxShips and boats in the Strait of Hormuz, Musandam, Oman, on April 22.PHOTO: REUTERSPublished May 19, 2026, 05:17 PMUpdated May 19, 2026, 05:17 PMTEHRAN - Iran has started a Bitcoin-backed insurance service for shipping companies that want to transit the Strait of Hormuz, the semi-official Fars news agency reported, citing documents obtained from Iran’s Ministry of Economy and Financial Affairs. Dubbed Hormuz Safe, the Iranian government says it could generate more than US$10 billion (S$12.8 billion) in revenue for the Islamic Republic, Fars reported, without giving a time frame or a breakdown of how the service would work.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Straits Times — World.