Iran Launches Bitcoin-Backed Insurance for Ships

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 18 2026

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New Insurance Service Launch: Iran has introduced Hormuz Safe, a Bitcoin-backed insurance service aimed at providing coverage for ships crossing the Strait of Hormuz, which is expected to generate over $10 billion annually, indicating a strategic shift in Iran's approach to global energy transport.
Insurance Coverage Details: The service offers insurance for Iranian shipping companies and cargo owners, with coverage starting upon confirmation and a signed receipt provided, although specific fee structures remain unclear, potentially increasing transportation costs.
New Authority Established: The Iranian Supreme National Security Council has established the Persian Gulf Strait Authority to provide real-time information and updates about the strait, aiming to enhance shipping safety and transparency, thereby building international trust.
Rising Insurance Costs: Due to military conflicts, insurance rates for vessels heading to the Persian Gulf have surged significantly, with some rates increasing fivefold within days, leading shipping companies to exercise caution regarding navigation in the area, which may impact future trade flows.

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Technical Analysis for SAFE

Technical Sentiment Analysis for Safe (SAFE). As of , Safe (SAFE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SAFE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, SAFE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Safe (SAFE) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0874	0.11	0.126	0.148	0.164	0.187	0.203
Fibonacci	0.11	0.124	0.133	0.148	0.163	0.172	0.187

About SAFE

Safe is the ownership layer of web3 securing >$100B+. It includes Safe{Core} a full stack of account abstraction infrastructure and the industry-standard multi-sig, Safe{Wallet}. The project is focused on making every Ethereum account, a smart account and enabling new use cases like AI, Staking, Gaming, SocialFi, DeFi, and Payments to flourish with gasless transaction, easy face-ID like logins, onramps, recovery and more. Safe currently has a large ecosystem of 200+ projects including Gnosis Pay and Worldcoin, deployed in over 15 networks, building on the Safe smart account standard. Safe{Wallet} is also used widely by individuals like Vitalik Buterin, Punk6529 as well as web2 giants like Shopify and Reddit for self-custody of assets and high value NFTs.As of April 2023, over 8M Safe accounts have been created, making >40 million transactions. The open-source contracts are battle-tested and have been formally verified and audited multiple times. There have been no critical security incidents since Safe was deployed in 2018 and Safe remains the benchmark of security in the industry.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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