Iran Launches Bitcoin-Backed Insurance Service For Strait Of Hormuz Shipping, Eyes $10B In Revenue

BTC

BTC/USDT

$63,072.43

+0.03%

$63,072.43

+0.03%

(24s)

24h Volume

$2,295,623,900.75

24h H/L

$63,175.00 / $62,920.00

Change: $255.00 (0.41%)

Long/Short

68.0%

Long: 68.0%Short: 32.0%

Funding Rate

+0.0005%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,064.11

▼ -0.03%

Volume (24h): -

Resistance Levels

Resistance 3$64,901.59

Resistance 2$63,882.30

Resistance 1$63,118.50

Price$63,064.11

Support 1$62,882.63

Support 2$62,275.00

Support 3$61,056.47

Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):43.0

Bitcoin Magazine Editorial

(01:17 PM UTC)

1 min read

Updated byDavid Kim

0 comments

Iran is reportedly launching a bitcoin-settled maritime insurance platform called Hormuz Safe, targeting cargo owners and shipping companies that transit the Strait of Hormuz and Persian Gulf — and projecting more than $10 billion in revenue for the Islamic Republic.

The platform, backed by Iran’s Ministry of Economy and Financial Affairs, was first reported by the IRGC-affiliated Fars News…