Venezuela inches toward integrating Bitcoin into its national banking rails
Crypto Briefing
Venezuela's fintech firm Conexus is developing a blockchain network to allow banks to process Bitcoin and stablecoin transactions.Summary
Venezuela is moving closer to integrating cryptocurrencies into its national banking system through a proprietary blockchain-based interbank network being developed by Conexus, one of the country's two interbank network operators. According to Conexus President Rodolfo Gasparri, this network will enable Venezuelan banks to facilitate custody of stablecoins and process interbank transactions involving Bitcoin and stablecoins using existing banking channels. The initiative is intended to provide citizens with a regulated method to utilize Bitcoin and stablecoins as a hedge against hyperinflation and currency volatility, positioning Venezuela among nations exploring Bitcoin-backed banking rails.
(Source：Crypto Briefing)