Iran shifts to stablecoins for Strait of Hormuz tolls, replacing Bitcoin

Iran is seeking to use stablecoins instead of Bitcoin to collect tolls in the Strait of Hormuz, according to officials speaking Monday, as Tehran looks to avoid Bitcoin’s price volatility while maintaining predictable revenue in one of the world’s busiest shipping lanes.

Government sources said Bitcoin’s swings make toll income difficult to forecast. The Strait of Hormuz carries about 20% of global oil shipments each day, leaving little room for revenue that fluctuates with cryptocurrency prices. “We need predictability,” a government spokesperson said.

Sanctions and the push for stable, regulated payments

Iran has been exploring cryptocurrencies for years, with economic sanctions driving interest in alternatives to traditional banking. The Ministry of Economy is reportedly working on a framework for stablecoin transactions, though regulatory approval is still pending.

No specific stablecoin has been named in the sources provided. Market watchers cited possible candidates such as Tether or USDC, but the information was described as speculation. Officials also did not specify which token Iran would select or how transactions would be structured.

Timeline, legal work and central bank stance

Iran is currently running consultations and feasibility studies, with legal frameworks being drafted but no timeline given. The Iranian Central Bank has not commented, and key implementation details remain unclear, including which stablecoin would be used and how payments would operate.

Iran is considering a pilot program set to begin in late 2026 to test stablecoin transaction viability in the Strait of Hormuz. The National Iranian Oil Company is expected to play a key role, and pilot outcomes could shape the final rollout approach.

Broader digital currency strategy

The stablecoin effort aligns with Iran’s wider digital currency plans. In 2025, the government launched a pilot program for its own central bank digital currency, the “crypto-rial,” as part of efforts to modernize Iran’s financial system and reduce dependence on foreign currencies. Sources suggested Hormuz toll payments could be integrated into this broader strategy.

Shipping companies have shown interest in more predictable payment systems. An executive from a major European shipping firm, speaking anonymously, said stablecoin payments could streamline operations and reduce financial uncertainty in high-stakes environments.

Cybersecurity concerns were also raised by an anonymous source from a leading Asian shipping firm, who cited worries about digital transaction security in the region. Iran’s government said robust cybersecurity measures would be part of the rollout strategy, but no further details were provided.

Partnerships and regulatory alignment

Iran’s Deputy Minister for Economic Affairs, Hossein Mirshojaeian, said Tuesday that discussions are ongoing with several foreign partners to facilitate stablecoin adoption, with the goal of helping international shipping firms transition to the new payment method. He emphasized the importance of aligning with global standards to maintain competitiveness in Iran’s maritime operations.

On April 10, the Iranian Ports and Maritime Organization announced plans to collaborate with local fintech firms to develop secure transaction platforms for stablecoin use. The organization said it is working with the Central Bank to align with existing financial regulations.

Scale of the corridor and potential impact

The Strait of Hormuz’s strategic significance increases the importance of financial stability. As of April 2026, Iran aims to keep operations running smoothly by adopting stablecoins, which could reduce transaction delays and currency conversion issues for international shipping companies.

Maritime data cited in the sources said more than 17,000 vessels transit the waterway annually, with fees paid based on tonnage and cargo type. Revenue fluctuations tied to Bitcoin’s volatility could affect Iran’s ability to fund infrastructure maintenance and naval operations.

Regional context

Other regional players are also exploring digital payment solutions for maritime operations. The UAE’s ports have tested blockchain-based transaction systems, and Saudi Arabia launched digital payment pilots for shipping services last year. Iran’s stablecoin initiative is described as part of a broader Middle Eastern shift toward cryptocurrency adoption in strategic sectors.