Bitcoin Now Insures Strait of Hormuz ShippingIran has officially introduced the first-ever Bitcoin-backed insurance program for commercial vessels navigating the Strait of Hormuz.According to Bloomberg reports, the Iranian maritime authority is bypassing traditional Western insurance cartels by using $BTC as the primary collateral for shipping indemnity.This move aims to secure transit for oil tankers amid rising regional tensions, providing a decentralized guarantee for global shippers. ...

RT Bitcoin Magazine (@BitcoinMagazine)JUST IN: Bloomberg reports that Iran started a Bitcoin-backed insurance service for shipping companies wanting to transit the Strait of Hormuz 🇮🇷It could reportedly generate more than $10 BILLION in revenue 🤯 https://t.co/rdoKV403Uj ...

JUST IN: 🇮🇷 Iran launches Bitcoin-backed insurance service for shipping companies wanting to transit the Strait of Hormuz. https://t.co/kFHz14ZJfB ...

Iran Launches Bitcoin Platform For Hormuz ShippingIran has unveiled Hormuz Safe, a state backed maritime insurance platform that allows payments in cryptocurrency, including Bitcoin $BTC.The platform is designed to bypass SWIFT and Western financial intermediaries.Iranian officials reportedly believe the project could generate over $10B in revenue.Hormuz Safe focuses on vessels crossing the Persian Gulf and Strait of Hormuz. The platform could still face major sanctions and compliance challenges.Source: Ira ...