Iran · Bitcoin · Strait of Hormuz · Donald Trump · Decrypt
The Iranian Revolutionary Guard Corps has reportedly promoted Hormuz Safe
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Fars, a state-affiliated Iranian news agency, reported Saturday that Iran’s Economy Ministry had been exploring the model since late April, with the plan allowing marine insurance policies and financial responsibility certificates that could generate more than $10 billion for the country.
Key facts
- Fars, a state-affiliated Iranian news agency, reported Saturday that Iran’s Economy Ministry had been exploring the model since late April, with the plan allowing marine insurance policies
- The Iranian Revolutionary Guard Corps has reportedly promoted Hormuz Safe, a Bitcoin-settled maritime insurance platform for cargo crossing the Strait of Hormuz, under a broader model Iran’s Economy
- On Myriad, a prediction market owned by Decrypt ’s parent company Dastan, traders placed the likelihood of a Trump announcement ending the Hormuz blockade before June at 20%
- A separate market places the odds of Iran closing its airspace before June at 46.5%
Summary
The IRGC has promoted Hormuz Safe, a platform that settles shipping insurance payments in Bitcoin, per state media reports. Europol has flagged 14,200 IRGC-linked posts across social media and websites. Sanctions, tracing and weak insurer support could limit use, Decrypt was told. The Iranian Revolutionary Guard Corps has reportedly promoted Hormuz Safe, a Bitcoin-settled maritime insurance platform for cargo crossing the Strait of Hormuz, under a broader model Iran’s Economy Ministry has explored for the strategic oil transit route.