Iran is exploring Bitcoin as a possible payment method within a tentative ceasefire arrangement with the United States after a 39-day bout of conflict that effectively closed the Strait of Hormuz. Tehran appears unlikely to cede control of the strategic waterway—through which roughly 20% of global crude passes—and instead plans to manage transit jointly with Oman while imposing tolls on vessels seeking safe passage.
Officials indicate those tolls might be paid in cryptocurrency. Hamid Hosseini, a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the Financial Times that some ships could be asked to pay in Bitcoin for secure transit of oil cargoes. He described a process in which vessels would receive an email and be given only seconds to complete a Bitcoin payment, a design purportedly meant to make funds harder to trace or seize under sanctions. If implemented, the move would mark a departure from prior Iranian comments that had suggested the yuan might be used for tolls.
Media reports say fees for approved vessels—especially oil tankers—can reach into the millions per voyage. Enforcement is reportedly handled by Iran’s Revolutionary Guard Corps, which has restricted access to the strait and allowed only approved traffic. The proposal underscores Tehran’s leverage over a chokepoint that handles about a fifth of global oil flows and highlights how digital assets could be used to circumvent traditional financial channels and sanctions regimes.
Other developments from this week’s Crypto Biz briefing:
Jamie Dimon warns blockchain and AI threaten traditional banking: In his annual shareholder letter, JPMorgan CEO Jamie Dimon cautioned that fintechs and nonbank competitors using blockchain and artificial intelligence are building faster, lower-cost systems that could displace parts of traditional banking. Dimon noted wider shifts in financial infrastructure, including the rise of stablecoins, and JPMorgan continues to invest in its own blockchain efforts—such as the Kinexys platform—to compete in payments and tokenization.
Bernstein sees upside for Figure on tokenized lending growth: Analysts at Bernstein pointed to Figure Technologies’ rapid origination pace—exceeding $1 billion in monthly loans—as evidence of traction for blockchain-based lending. Built on the Provenance blockchain, Figure’s model aims to cut costs and speed processing, which Bernstein says could boost margins. The firm reiterated an Outperform rating and set a roughly $67 price target for the stock.
White House analysis finds limited impact from banning yield-bearing stablecoins: Economists at the White House Council of Economic Advisers estimated that prohibiting yield-bearing stablecoins would increase bank lending by only about 0.02%, suggesting minimal spillover from those products into traditional deposits. The report also cautioned that restricting yields could reduce consumer access to higher returns, presenting a policy trade-off as lawmakers consider market-structure reforms.
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