Iran Reportedly Launches Bitcoin-Based Shipping Insurance for Hormuz Passage

Although there’s no clear resolution in sight for the ongoing war between the US and Iran, and the impact on crypto markets has been predominantly negative, new reports have doubled down that passage through the Strait of Hormuz could involve bitcoin.

Citing new information from the semi-official Fars News Agency, Walter Bloomberg indicated that Iran has introduced a BTC-settled insurance service for vessels passing through the Hormuz.

This Hormuz Safe is designed to cover ships transiting the strategic waterway and could generate over $10 billion in revenue, some sources added.

The post Iran Reportedly Launches Bitcoin-Based Shipping Insurance for Hormuz Passage appeared first on CryptoPotato.

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