Stablecoin usage in Venezuela likely to keep expanding amid economic instability

Stablecoins Gain Popularity in Venezuela as Hyperinflation and Sanctions Persist

Stablecoin adoption in Venezuela grows as the bolívar weakens, driven by hyperinflation and sanctions. Peer-to-peer platforms, particularly USDT, are replacing traditional banking services in Venezuela. International companies like Western Union and Visa are exploring stablecoin solutions for cross-border payments. The uptake of stablecoins is increasing as Venezuela's economic crisis intensifies and the bolivar further loses its value. The shif…

Venezuela's Crypto Use Surges Amid Intensifying Economic Crisis

Venezuelans’ Growing Dependence on Blockchain Amid Economic and Political Turmoil With decades of economic instability and deteriorating banking infrastructure, Venezuelans are increasingly turning to blockchain technology as a primary financial solution. The use of cryptocurrencies, particularly stablecoins like USDT, has surged in the country, serving as essential tools for everyday transactions and savings. Key Takeaways Venezuela ranks 18th…

Stablecoin usage in Venezuela likely to keep expanding amid economic instability

Venezuelans are increasingly relying on stablecoins as inflation, sanctions, and banking failures persist, but TRM Labs predicts demand will continue to grow as economic pressures deepen.