How Iran Is Making Money With Crypto: The Strait of Hormuz Payment Scheme

Since mid-March 2026, Iran has begun accepting cryptocurrency as payment for ships transiting the Strait of Hormuz. This is the first time in history that a state has used crypto infrastructure as a full-fledged revenue source on such a strategically critical maritime chokepoint. GetBlock AML Research takes a detailed look at the scheme Iran is using to bypass international sanctions.

The Islamic Revolutionary Guard Corps (IRGC) is charging up to $2 million per vessel. According to public estimates, the system could generate up to $20 million per day from oil tankers alone. When factoring in liquefied natural gas carriers, monthly revenues could reach $600–800 million.

The key element of the system — the intermediary collecting the payments — remains undisclosed to the public. That’s a major headache for anyone trying to sanction or shut it down. Crypto payments move fast and sit outside the traditional U.S. banking system, making them extremely difficult to block in real time.

Geopolitical tensions between the US and Iran have shaken the crypto and commodity markets.

Bitcoin fell to $63,000, while oil exceeded $80 a barrel and gold continued to rise.

Читать дальше

A ceasefire brokered by Pakistan took effect on April 7, 2026, but doubts about its durability surfaced as early as April 8. Despite that, the toll collection system continues operating. What’s more, Iran has already built out full infrastructure: legislation, military command structure, and a dedicated crypto processing zone on Kish Island.

How Iran is using crypto to dodge sanctions

Using cryptocurrency to charge for passage through the Strait of Hormuz represents a significant escalation in sanctions evasion. Since March 2026, the IRGC has demanded up to $2 million per transit. Payments are accepted in:

• Chinese yuan via Kunlun Bank (bypassing SWIFT)
• Bitcoin
• Possibly USDT stablecoin

Billions in Iranian cryptocurrency on the global market: sanctions risks and compliance challenges

In 2025, $7.2 billion in transactions passed through the Iranian platform, and earlier reports indicated that the Central Bank of Iran purchased $500 million in USDT. Geopolitical instability is increasing pressure on crypto companies and requires a reassessment of sanctions compliance systems

Читать дальше

Iran’s parliament has formalized the system at the legislative level. Official documents state that payments can be made in the national currency (rials) or in “digital currencies” developed with participation from Iranian companies. On March 30–31, 2026, the “Strait of Hormuz Management Plan” was officially approved, essentially legalizing the system that was already up and running.

How the payment system for ship transits actually works

It’s still unclear whether the ceasefire has affected operations, but as of April 8, vessels had already resumed transiting the strait.

The process works like this:

• Ship owners contact an IRGC-linked intermediary and submit detailed information: owner details, vessel flag, cargo, route, crew, and tracking data.
• The IRGC then vets the vessel. Any links to the U.S. or Israel result in a denied passage. Next comes a country risk-ranking system. All nations are divided into five categories based on “friendliness.” The higher the tier, the lower the fee.
• Pricing is calculated individually. For oil tankers, it’s roughly $0.50 to $1 per barrel of oil. A large tanker carrying around 2 million barrels pays approximately $2 million. Other vessel types are priced separately.
• Payment is accepted only in yuan or cryptocurrency. Once paid, the ship receives a special code via radio and is escorted by IRGC naval forces through a secure route.

Why Iran is turning to crypto for these payments

At first glance, this looks like a sudden move. In reality, it’s a logical extension of Iran’s existing financial playbook. The IRGC has already used crypto infrastructure to move around $1 billion through offshore platforms and stablecoins.

New pressure on Iran: the US sanctions crypto exchanges Zedcex and Zedxion

For the first time, US sanctions target crypto trading platforms linked to Iran rather than individual wallet addresses. The move signals a tougher stance on Iran’s use of crypto to bypass restrictions.

Читать дальше

Crypto offers several clear advantages:

• Low transaction fees
• High speed
• Access to global liquidity
• Complete independence from U.S. banks

These features make it attractive not just for regular users, but for sanctioned governments. Now that infrastructure isn’t just being used for transfers — it’s powering a real-time revenue collection system.

Which cryptocurrencies are being used

The law officially mentions rials, yuan, and digital currencies. However, the full text of the legislation hasn’t been published, so exact details remain unclear.

Iranian media reports mention Bitcoin. Western sources, citing shipping industry participants, claim USDT is being used in practice. There’s an important catch: stablecoin issuers can freeze funds at the request of authorities. That gives Iran strong reasons to prefer Bitcoin, which is much harder to control.

How Iran is framing the system

Iranian officials aren’t presenting the toll system as wartime profiteering — they’re calling it an exercise of sovereign rights.

How to Bypass Sanctions and Launder Crypto: An Iranian Businessman Shows How

Crypto compliance systems have once again shown their limitations. An Iranian businessman has revealed a scheme that allows international sanctions to be bypassed and cryptocurrency to be laundered with little risk of consequences.

Читать дальше

Parliamentary representatives say the strait is a regular transport route whose security Iran provides. Therefore, charging a fee is standard practice. Sources close to the IRGC describe the strait as “a toll booth on the main artery of global trade.”

Iran also points out that it never signed the United Nations Convention on the Law of the Sea (UNCLOS), which prohibits such charges. This lets the country justify the payments as compensation for services: protection, navigation assistance, and environmental monitoring. Additionally, Iranian oil and gas officials claim the system helps track cargo movements and prevent illegal arms shipments.

Infrastructure and scale of crypto payments

To handle cryptocurrency, Iran has built a dedicated system. A facility on Kish Island now allows rapid conversion of digital assets into rials or outbound transfers.

This shows the program isn’t a temporary workaround — it’s a well-planned infrastructure play. Some Iranian analysts estimate the system could generate as much as $120 billion per year at full capacity. That’s significantly higher than Western estimates.

Outlook and risks for the market

Iran views this system as permanent. It’s backed by law, run by a military structure, and supported by its own financial infrastructure. Even if the ceasefire holds, the underlying model won’t change. Crypto payments remain extremely difficult to track and block.

Iranians are withdrawing cryptocurrency en masse to personal wallets. Why is this happening?

There has been a sharp surge in activity among Iranian cryptocurrency users amid mass protests in the country and the high probability of a military confrontation with the United States.

Читать дальше

The biggest obstacle for outside pressure is the unidentified intermediary handling the payments. Until that entity is exposed, restricting the system will be very hard. If this model survives, it will stand as the first sustainable example of a nation-state using cryptocurrency as a strategic government revenue source.