Stablecoin usage in Venezuela likely to keep expanding amid economic instability
Stablecoin use in Venezuela is expected to grow due to ongoing economic collapse and regulatory uncertainty.Summary
According to TRM Labs, Venezuela's crypto ecosystem is a direct result of a decade of economic collapse, international sanctions, and macroeconomic instability causing the bolívar's devaluation. The firm predicts that demand for stablecoins, used both as a store of value and a medium of exchange, will continue to rise if conditions worsen. Regulatory ambiguity surrounding SUNACRIP and eroding trust in traditional banking further prolong dependence on digital assets. Venezuelans heavily rely on peer-to-peer (P2P) transactions and USDT-to-fiat conversions, with over 38% of site visits tracked by TRM Labs going to a single global P2P platform. For most citizens, stablecoins function as a substitute for retail banking, facilitating payroll, remittances, and vendor payments where domestic financial services are inconsistent.
(Source：Cointelegraph)