TRM Labs predicts that the use of stablecoins in Venezuela will increase as economic instability escalates, with USDT Vai as a banking alternative for millions of people.
Venezuelans are increasingly relying on blockchain technology to meet basic financial needs after a decade of severe economic pressure. According to a recent report from blockchain intelligence firm TRM Labs, released Thursday, this usage is likely to continue to rise if the economic situation in the South American nation continues to deteriorate.
TRM Labs predicts that amid escalating US-Venezuela tensions, macroeconomic instability, and the continued depreciation of the bolívar, demand for stablecoins as a store of value and medium of exchange will surge. Regulatory ambiguity and lingering uncertainties surrounding the authority and enforcement capacity of SUNACRIP – the national crypto asset regulator – coupled with declining confidence in traditional banking infrastructure, are driving this trend.
The report emphasizes: “Without substantive changes in Venezuela’s macroeconomic conditions or the emergence of a unified regulatory oversight mechanism, the role of digital assets – particularly stablecoins – is projected to expand.” According to the Chainalysis Cryptocurrency Adoption Index 2025 report, Venezuela ranks 18th globally in cryptocurrency adoption, but this ranking rises to 9th when adjusted for population size.
P2P transactions have become the lifeblood of finance.
Peer-to-peer transactions via intermediaries, along with the conversion of USDT to fiat currency, have emerged as key services used by Venezuelans amid a lack of reliable domestic banking channels. TRM Labs tracked IP addresses in Venezuela and found that over 38% of website visits were concentrated on a single global platform offering P2P trading functionality, highlighting the platform's Vai in facilitating access to crypto assets in a country with a limited banking environment.
A significant proportion of cryptocurrency-to-fiat conversions are conducted through informal payment “railway” platforms, even amidst reports of occasional service disruptions. Local platforms also play a crucial Vai , particularly those offering mobile wallets and banking integrations tailored to local users.
According to TRM Labs, Venezuela's cryptocurrency ecosystem is a product of nearly a decade of economic recession, pressure from international sanctions, and state experiments with alternative digital financial options. Stablecoins, particularly USDT, play a crucial Vai in household and commercial transactions. Despite concerns about compliance and sanctions evasion, stablecoins remain "overwhelmingly driven by essential needs rather than speculation or criminal purposes."
For the majority of Venezuelans, stablecoins now function as a substitute for retail banking services, facilitating payroll payments, family remittances, supplier payments, and cross-border purchases amidst the instability of domestic financial services. This is clear evidence that blockchain technology is meeting urgent financial needs in markets experiencing crisis.
