Venezuela’s crypto adoption surges amid inflation and currency collapse

From corner shops to big retailers, Venezuelans are embracing stablecoins as inflation soars and the bolívar loses over 70% of its value.

Cryptocurrencies are becoming a core part of the economy in Venezuela as citizens turn to digital assets to shield themselves from a collapsing currency and tighter government controls.

From small family stores to large retail chains, shops across the country now accept crypto through platforms such as Binance and Airtm. Some businesses even use stablecoins to pay employees, while universities have begun offering courses dedicated to digital assets.

“There’s lots of places accepting it now,” shopper Victor Sousa, who paid for phone accessories with USDt (USDT), told the Financial Times. “The plan is to one day have my savings in crypto.”

Read more