WANA (May 16) – An Iranian platform called “Hormuz Safe” has officially begun offering insurance services for maritime cargo passing through the Strait of Hormuz, as part of a broader initiative aimed at managing commercial activity in the strategic waterway through insurance mechanisms.

 

According to documents obtained by journalists, Iran’s Ministry of Economy has been pursuing the plan since early April, seeking to establish a framework in which parts of the Strait of Hormuz’s maritime management would be handled through insurance-related services.

 

The platform is designed to issue various types of marine insurance policies as well as financial liability certificates for cargo traveling through the Persian Gulf, the Strait of Hormuz, and surrounding waterways. Officials involved in the project estimate that the initiative could eventually generate more than $10 billion in revenue for the country.

Regulations published on the platform’s website state that insurance policies are issued rapidly and include encrypted verification features. Payments are settled in Bitcoin, and cargo is covered immediately after confirmation, with a digitally signed receipt provided to the owner.

 

The launch comes as the Strait of Hormuz remains one of the world’s most critical routes for global energy shipments and maritime trade, making any new financial or logistical mechanism linked to the waterway closely watched by international markets.