Stablecoin adoption in Venezuela is expected to grow as the country faces ongoing economic instability, high inflation, and a depreciating bolívar, according to a report by TRM Labs. The report highlights that stablecoins, particularly USDT, are increasingly used as a store of value and payment tool, effectively replacing traditional retail banking functions. These digital currencies are utilized for salary payments, remittances, merchant settlements, and cross-border transactions. TRM Labs emphasizes that the primary drivers for stablecoin use in Venezuela are survival and practical needs, rather than speculation or illicit activities.
Stablecoin Usage in Venezuela Set to Expand Amid Economic Turmoil
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