Crypto Adoption Surges in Venezuela as Currency Collapses, Inflation Soars
Digital currencies are increasingly becoming part of everyday life in Venezuela as people seek ways to protect their income from the rapid decline of the bolívar and stringent financial restrictions. Shops of all sizes, from corner stores to national retail chains, now accept payments in crypto using services like Airtm or Binance. Some companies have taken it a step further, using stablecoins to cover employee salaries, while several universities have established programs that teach students about blockchain and digital assets. Venezuela ranked 13th worldwide for cryptocurrency adoption in the 2024 Chainalysis Global Cryptocurrency Adoption Index, with usage growing 110% compared…
