Iran Launches Bitcoin-Backed Maritime Insurance Platform for Strait of Hormuz Vessels

GateNews
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According to Bloomberg, Iran has launched a Bitcoin-backed maritime insurance platform called ‘Hormuz Safe’ to provide digital coverage for vessels transiting the Strait of Hormuz. The platform allows payment in cryptocurrencies including Bitcoin. The move comes as shipping insurance premiums for the waterway have surged to around 5% of vessel value amid heightened tensions.

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· 3h ago
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