- Venezuela adopts USDT for survival amid hyperinflation, while El Salvador integrates it for beef imports and financial inclusion.
- USDT’s stability supports Venezuelans’ savings and daily commerce, just as it enables Paraguay’s beef exports to El Salvador’s agromarkets.
The Venezuelan economy is in a complex situation, marked by persistent inflation and a national banking system that operates with limitations. In this context, USDT has found a space of practical utility for citizens, private companies, and the state itself.
The hyperinflation that affected Venezuela, with rates that reached extraordinarily high levels in 2018, left a profound mark. Although the reported annual inflation rate for April 2025 was 172 percent, a figure lower than previous peaks, it remains high enough to rapidly affect savings held in bolivars. This economic reality has driven the search for alternatives.
Initially, many people turned to cryptocurrencies like Bitcoin through peer-to-peer platforms. Over time, USDT has gained a central role due to its price stability, as its value is designed to mirror that of the US dollar.
A determining factor in the adoption of USDT is the combination of international financial sanctions and the pursuit of operational efficiency by the state and private companies. Various reports suggest that the Central Bank of Venezuela has evaluated the use of this digital currency to facilitate certain payments. In parallel, PDVSA has begun moving a portion of its dollar-denominated income into USDT.
This creates channels that inject digital foreign currency directly into the country’s economy. Venezuelan economist Asdrúbal Oliveros has indicated that the state is currently conducting more settlements in USDT than in physical US dollars.
During 2023, an estimated 500 million dollars entered Venezuela through digital assets, predominantly in small transfers of up to 1,000 dollars. This mechanism allows Venezuelans to receive money from abroad in minutes, avoiding the high fees and delays of traditional bank transfer systems. Once received, these USDT funds can be converted into bolivars on P2P exchange platforms for daily expenses, or held as savings protected from devaluation.
Cryptocurrency activity in Venezuela has reached considerable volumes
Data from the analytics firm Chainalysis, corresponding to the period between July 2022 and June 2025, places the country as the fourth-largest economy in Latin America by transaction volume, with 44.6 billion dollars. This figure places it behind Brazil, Argentina, and Mexico.
The Binance P2P platform is the main market for exchanging USDT for bolivars. Its operation allows users to buy and sell the stablecoin directly with each other, offering straightforward access to a stable currency.
The operational advantages of USDT over physical cash are another key element. According to financial educator Orlando Sevilla, 100 USDT can offer superior practical value compared to 100 dollars in bills. USDT provides security by eliminating the need to transport cash and allows sending money to any business in the world within seconds.
While the bolivar was officially quoted at 187.28 units per dollar, the selling price of USDT on Binance P2P fluctuated around 298,000 bolivars. This wide gap further incentivizes the use of the stablecoin as a benchmark for value and a medium of exchange.
Nowadays, it is common to find establishments in Venezuela that accept payments in USDT. Supermarkets, home delivery services, and various providers integrate this digital currency into their payment systems. Its adoption has consolidated as a functional anchor for an economy operating under adverse conditions.
It is worth mentioning that Tether, the company that issues USDT, is a centralized entity with the capacity to freeze funds in compliance with orders from authorities like the US OFAC. However, to date, no widespread freezing of accounts in Venezuela has been recorded, which has allowed its use to continue.
While Venezuela deepens its relationship with digital currencies out of necessity, other countries in the region are exploring their integration strategically. One example is developing in El Salvador, where the Paraguayan company Carnes del Paraguay SA began operations with an initial investment of five million dollars. This project includes the promotion of digital payments using USDT for the commercialization of beef.
The company’s CEO, Fernando Arriola, explained that the initiative seeks to offer an alternative to El Salvador’s high dependence on meat imported from Nicaragua, which supplies between 70% and 75% of national consumption. The stated goal is to sell quality meat at more accessible prices and, at the same time, introduce modern payment methods. Arriola considered that while Bitcoin has value, the USDT stablecoin is more suitable for sectors with narrow economic margins and low tolerance for volatility, such as small and medium-sized enterprises.
To implement this system, the company will train its staff and offer practical workshops on the use of USDT and digital wallets. Furthermore, it will install the necessary infrastructure, such as cold storage rooms and display shelves, at points of sale. Arriola highlighted that El Salvador has a banking penetration rate close to 40%, and that many small businesses lack access to credit or basic financial services. Payments with digital wallets will offer discounts of up to 20% to incentivize their adoption among consumers and producers.
This project has the support of El Salvador’s National Digital Assets Commission, the state body that oversees the use of these assets. The first meat shipment, exceeding 50,000 pounds, is scheduled to arrive in November and will initially be distributed in seven agricultural markets in San Salvador. The initiative has also received approval from the livestock authorities of Paraguay and El Salvador. If this first phase yields positive results, the company plans to expand its operations to other areas of the country.
The case of El Salvador and Paraguay shows international cooperation regarding digital assets. Both countries signed a Memorandum of Understanding in March aimed at strengthening the supervision and regulation of cryptocurrency service providers. This legal framework facilitates projects like that of Carnes del Paraguay, integrating the trade of basic goods with digital payment systems.
In Venezuela, the situation is different. The adoption of USDT is not the result of a state policy of financial inclusion, but rather an organic response to a profound economic crisis. The stablecoin functions as a mechanism that keeps an economy active, whose survival depends more on the ingenuity of its population than on the stability of its traditional financial institutions.
