In countries where the banking system has collapsed due to war, digital assets have become an essential financial tool for both individuals and businesses. Bitcoin (BTC) and stablecoins are used to hedge against inflation and enable rapid value transfer, with institutional foundations gradually being strengthened.
According to Cryptoslate on the 20th (local time), digital assets are emerging as a critical means of survival in countries affected by war after the banking system's collapse. Bitcoin (BTC) was designed to enable peer-to-peer transactions without central control, and various stablecoins that followed have become the last hope for residents in war-torn areas. Despite lack of financial accessibility, regulatory absence, and user education issues, cryptocurrencies remain an essential asset for survival. In particular, Bitcoin and stablecoins are used as a means of protecting asset value amid high inflation compared to local currencies.
In areas where the banking system has severely collapsed, cryptocurrencies with fast and cheap transactions have become an essential alternative. Ukraine enacted the 'Virtual Asset Law' in 2022, officially recognizing cryptocurrencies as assets, and Syria is preparing related legislation. Value transfer through digital assets can bypass sanctions and has become a crucial means of survival, with stablecoins functioning as an inflation hedge. Tether (USDT) is traded at over $6.6 billion per day, providing sufficient liquidity to respond to large-scale payment demands. Additionally, some countries are engaging in Bitcoin mining using excess energy to explore economic recovery and attract foreign investment. Ukraine, in particular, has successfully raised approximately $225 million through digital assets.
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