According to a TRM Labs report, in the context of prolonged economic turmoil, high inflation, continuous depreciation of the national currency Bolivar, and the failure of the traditional banking system, the use of stablecoins in Venezuela is expected to continue expanding. The report points out that stablecoins (especially USDT) have been widely used as stores of value and payment tools, taking on the role of replacing retail banks for salary payments, family remittances, merchant settlements, and cross-border payments. TRM Labs emphasizes that the primary reason for local stablecoin usage is survival and practical needs, rather than speculation or criminal motives. (Cointelegraph)
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According to a TRM Labs report, in the context of prolonged economic turmoil, high inflation, continuous depreciation of the national currency Bolivar, and the failure of the traditional banking system, the use of stablecoins in Venezuela is expected to continue expanding. The report points out that stablecoins (especially USDT) have been widely used as stores of value and payment tools, taking on the role of replacing retail banks for salary payments, family remittances, merchant settlements, and cross-border payments. TRM Labs emphasizes that the primary reason for local stablecoin usage is survival and practical needs, rather than speculation or criminal motives. (Cointelegraph)