
Stablecoin Usage Ramps up in Venezuela Amid Rampant Devaluation
Stablecoin adoption has grown in Venezuela as the government tightens controls to impose the official dollar exchange rate on businesses, which is much lower than the value of dollar-pegged tokens in P2P markets such as Binance. Stablecoin Usage Grows as Businesses Try to Stay Afloat in Venezuela Stablecoins have become useful tools in distressed economies where inflation and devaluation indices are sky-high. According to local reports, the stablecoin adoption in Venezuela has been growing steadily, driven by a devaluation process and exchange controls that price dollars in cash at a much lower price than these dollar-pegged tokens. While physical dollar…








