CARACAS / LONDON (IT BOLTWISE) – With military tensions looming and sanctions ongoing, Venezuela’s reliance on stablecoins is increasing. These digital currencies offer Venezuelans a way to protect their savings from the bolivar hyperinflation. The government also uses stablecoins for international trade, particularly in the oil sector.
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In Venezuela, the use of stablecoins, particularly those pegged to the US dollar, has become an important tool to address the country’s economic challenges. With military tensions looming with the United States and ongoing international sanctions, many Venezuelans are looking for ways to protect their savings from the Bolívar’s hyperinflation. Stablecoins offer a welcome alternative here because, unlike national currencies, they remain stable.
Recent geopolitical developments have further exacerbated uncertainty in Venezuela. The deployment of a state-of-the-art U.S. aircraft carrier to the Caribbean and President Donald Trump’s threats to take military action against drug cartels in Venezuela have heightened tensions. President Nicolás Maduro has rejected drug trafficking allegations and urged Trump not to start a war.
Stablecoins, known by many Venezuelans as “Binance Dollars,” have become not only a means of storing value, but also a common means of payment in everyday life. As US dollar reserves are scarce in the country, more and more people are turning to these digital currencies. The Venezuelan government is also using stablecoins to facilitate oil trade, particularly with countries such as Russia, with which it recently entered into a strategic partnership.
The economic challenges and sanctions have made Venezuela one of the leading countries in Latin America in terms of crypto adoption, according to reports. Between July 2024 and June 2025, $44.6 billion worth of cryptocurrencies were transferred to the country, placing Venezuela fourth in the region, behind Brazil, Argentina and Mexico.
A notable example of cryptocurrency use in Venezuela is Maria Corina Machado, a former presidential candidate who uses Bitcoin to protect her assets from government access. She was recently awarded the Nobel Peace Prize for her work to restore democracy in Venezuela. Since Maduro came to power in 2013, nearly 8 million Venezuelans have left the country, further highlighting the importance of cryptocurrencies for wealth preservation.
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