Persian Gulf Marine Insurance Company (PGMIC)

State-linked insurer

Appears in 1 story · Last updated Oct 23, 2026

Stories

Iran launches Bitcoin-backed insurance for Hormuz shipping

Money Moves

Designated by OFAC on July 29, 2026

Iran started selling Bitcoin-priced insurance for Strait of Hormuz crossings in May. Treasury has since designated the platform, the state insurer behind it and a Tehran exchange it says moved the money to the Revolutionary Guard.

Updated Oct 23