Bitcoin is being discussed as a payment option in a fragile ceasefire framework between the United States and Iran after a 39-day conflict that closed the Strait of Hormuz. Tehran appears unlikely to surrender control of the narrow waterway—through which roughly 20% of global crude moves—and instead plans to oversee transit with Oman, charging tolls to ships seeking safe passage.
Those tolls may include cryptocurrency. Hamid Hosseini, a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the Financial Times that some vessels could be required to pay in Bitcoin for the safe transit of oil cargoes. “Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” he said. If enacted, the policy would mark a shift from previous Iranian statements that the yuan would be the accepted toll currency.
Reports say ships, particularly oil tankers, are being charged fees that can reach into the millions per trip. The system is reportedly enforced by Iran’s Revolutionary Guard Corps, which has restricted access to the strait and allowed only approved vessels to pass. The move highlights the geopolitical leverage Iran holds over a route that handles about a fifth of global oil flows and shows how digital assets could be used to sidestep traditional finance and sanctions.
This week’s Crypto Biz also covers three other developments:
– Jamie Dimon warns blockchain and AI are coming for banking
JPMorgan CEO Jamie Dimon cautioned in his annual shareholder letter that fintechs and nonbank competitors using blockchain and artificial intelligence are building faster, lower-cost systems that threaten traditional banks. Dimon noted the broader shift toward new financial infrastructure, including stablecoins, and JPMorgan is investing in its own blockchain platforms such as Kinexys to compete in payments and tokenization.
– Bernstein says Figure stock could double on tokenization growth
Analysts at Bernstein highlighted Figure Technologies’ rapid loan growth—surpassing $1 billion in monthly originations—as evidence of traction for blockchain-based lending. Running on the Provenance blockchain, Figure’s model aims to reduce costs and speed loan processing, which Bernstein says could improve margins and supports an “Outperform” rating and a ~$67 price target for the stock.
– White House: stablecoin yield ban would barely lift bank lending
Economists at the White House’s Council of Economic Advisers estimated that banning yield-bearing stablecoins would increase bank lending by only about 0.02%, suggesting limited spillover from such products into traditional deposits. The analysis also warned that restricting yields could deprive consumers of higher returns, a trade-off for policymakers debating market-structure legislation.
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