Venezuela faces increasing financial uncertainty due to ongoing sanctions, a volatile bolívar, and heightened tensions between the country and the U.S. as military threats loom. This situation has seen a surge in the adoption of stablecoins like Tether (USDT) to protect savings from hyperinflation. 50% of legal currency entering Venezuela’s economy now comes through stablecoin exchanges according to the New York Times, with these digital currencies also facilitating oil trade with allies including Russia.
The Venezuelan government has increasingly relied on stablecoins for financial stability, and even President Maduro himself has highlighted their usage in this context. The country currently ranks fourth in Latin America for crypto adoption based on its value received (over $44 billion from July 2024 to June 2025), according to Chainalysis. This surge in cryptocurrency use comes amid a growing population of Venezuelans who have sought refuge abroad due to the country’s economic crisis, including hyperinflation, food and medicine shortages, and public disorder since Maduro assumed power in 2013.
Notably, Maria Corina Machado, a former presidential candidate and Nobel Peace Prize winner for her fight against Maduro’s authoritarian regime, has been using Bitcoin (BTC) to safeguard her assets from potential seizure. This highlights the growing role of cryptocurrencies in Venezuela as a means to mitigate economic instability.