Iran has launched a Bitcoin-based insurance service for ships passing through the Strait of Hormuz.
According to Bloomberg, over 1,500 commercial vessels were stranded in the Persian Gulf by early May.
The US has initiated "Operation Economic Fury," freezing millions in crypto accounts linked to Iran.
Iran's new service, "Hormuz Safe," provides cryptographic insurance policies for transits, paid in Bitcoin.
US Treasury Secretary Scott Bessent said nearly $500 million in crypto was seized during the operation.
