Iran has reportedly introduced a new maritime insurance platform, “Hormuz Safe,” designed to provide insurance coverage for commercial vessels transiting the Strait of Hormuz, amid heightened geopolitical and maritime security tensions in the region.
According to a report published Sunday by Iran’s Fars News Agency, the platform is being promoted as an Iranian sovereign-backed insurance solution intended to support what Tehran describes as the “safe passage” of vessels navigating the Strait of Hormuz and surrounding Gulf waters.
The platform is said to offer fast-track maritime insurance services, digitally authenticated coverage certificates, and encrypted verification systems for ships operating across the Arabian Gulf and nearby shipping routes. Iranian media reports further indicated that insurance payments may be processed using cryptocurrencies, including Bitcoin.
Reports also suggest that Iran’s Ministry of Economy has been developing a broader maritime management framework since early May, focusing on shipping oversight through insurance coverage, financial guarantees, and vessel certification mechanisms linked to Hormuz transit.
Iranian media estimates the initiative could potentially generate revenues exceeding $10 billion should the platform gain broad international adoption.
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