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>>According to TRM Labs, stablecoin adoption in Venezuela is expected to climb as the Bolívar continues to weaken.

According to TRM Labs, stablecoin adoption in Venezuela is expected to climb as the Bolívar continues to weaken.

crypthub

3 days ago

Economic Pressure Fuels Stablecoin Growth

Venezuela’s deepening recession and a depreciating bolívar are accelerating stablecoin use, according to TRM Labs. Hyperinflation, sanctions and limited banking services push citizens to seek alternatives. Stablecoins are now viewed not just as stores of value but also as daily transaction media. Persistent macro‑economic instability and vague crypto regulation are expected to further expand this trend.

Peer‑to‑Peer Platforms Replace Traditional Banking

P2P networks and USDT have become de‑facto retail banking tools across the country. Over a third of crypto‑related site visits from Venezuelan IPs target a single global P2P exchange, filling gaps left by unreliable banks. Local mobile‑wallet services integrate with banks to support informal settlement rails for everyday commerce. These platforms enable payroll, remittances and vendor payments despite infrastructure challenges.

Adoption Rates Highlight Deep Integration

Chainalysis ranks Venezuela 18th worldwide and ninth when adjusted for population in crypto adoption. Stablecoins, especially USDT, now underpin cross‑border purchases and local transactions. The ecosystem is driven by necessity rather than speculation, with users relying on blockchain to bypass intermittent domestic banking services.

Global Moves Reinforce Stablecoin Momentum

Western Union plans a dollar‑backed stablecoin on Solana for 2026, while Visa pilots payouts in Circle’s USDC for gig workers. Both initiatives aim to reduce fees, speed settlement and lower dependence on volatile fiat channels. These developments signal broader confidence in stablecoins as viable financial infrastructure.