Venezuela’s Financial Crisis: How Stablecoins Emerge as a Survival Tool

Venezuela, once ranking 13th globally for crypto adoption according to Chainalysis, is witnessing a dramatic shift as stablecoins like Tether (USDT) rise from investment to survival necessity. 70% of the bolívar’s value has vanished, leaving citizens struggling with failing wages and unstable currency. Stablecoins are now employed for everyday transactions, powering everything from grocery purchases and salaries to savings accounts. Binance and Airtm have become critical payment platforms, providing essential financial services that bypass Venezuela’s crumbling local banking system.