Nearly 20% of the world’s oil supply moves through the Strait of Hormuz. Iran now wants a cut of it — not by force, but through Bitcoin.

A Platform Built Around Geography

Iran’s Ministry of Economy launched Hormuz Safe on May 16, 2026, a maritime insurance platform that lets cargo operators pay with Bitcoin and other cryptocurrencies instead of going through traditional banks.

Once a payment clears on-chain, the cargo gets immediate insurance coverage along with a digitally signed receipt. The target market is ships passing through the Persian Gulf and the Strait of Hormuz — one of the most heavily trafficked shipping corridors in the world.

Iranian media have reported that the platform could eventually bring in more than $10…