Venezuela’s Crypto Adoption Rises as Bolívar Crashes and Inflation Soars
Cryptocurrencies are becoming a core part of the economy in Venezuela as citizens turn to digital assets to shield themselves from a collapsing currency and tighter government controls.
From small family stores to large retail chains, shops across the country now accept crypto through platforms such as Binance and Airtm. Some businesses even use stablecoins to pay employees, while universities have begun offering courses dedicated to digital assets.
“There’s lots of places accepting it now,” shopper Victor Sousa, who paid for phone accessories with USDt (USDT), told the Financial Times. “The plan is to one day have my savings in crypto.”
Venezuela ranked 13th globally for crypto adoption, according to the Chainalysis 2024 Crypto…
