Techub News reports that, according to CryptoBriefing, Iran's Ministry of Economic and Financial Affairs has launched the "Hormuz Safe" platform to provide digital insurance policies for ships passing through the Strait of Hormuz and accept cryptocurrency payments, aiming to address the issue of traditional insurance payments being blocked due to international sanctions. Due to Iran's long-term sanctions and exclusion from the global banking system, traditional insurance payments through Western financial institutions are easily frozen. Previously, the insurance premium for war risk in the strait had soared to 10% of the vessel's value, with daily transit volume dropping by 95%. The platform is expected to generate annual revenue of over $10 billion.

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