Venezuela’s cash is rapidly losing value. People and businesses are turning to US dollar stablecoins, especially USDT, to protect their savings and make daily payments.
According to market data, the peso is comparable bolivar quoted around 267 per US dollar on December 12, 2025, after around 254 on December 5, showing how quickly the local currency can move.
Why the shift is accelerating
Based on reports Based on stock exchanges and chain companies, inflation in 2025 is estimated at 100 to 200 percent on an annual basis. Under these circumstances, prices rise rapidly.
Wages lose value within days, sometimes hours. To avoid that loss, workers, freelancers and small shops are turning to stablecoins pegged to the US dollar, which have a better value than the local currency.
Stablecoins as everyday money
USDT is now used in several cities for groceries, rent and even salaries. Peer-to-peer platforms and small crypto desks help users switch between bolívars and stablecoins without relying on traditional banks.
In some neighborhoods, merchants accept stablecoins directly, eliminating the possibility of exchanging money altogether. Payments that once required stacks of money or quick conversions are now handled via mobile wallets.
Increasing flows within the chain and regional trends
Blockchain analytics firms tracking activity across Latin America have reported a sharp increase in stablecoin volumes in 2024 and 2025.
TRM Labs and similar groups point to higher transaction numbers and more active wallets tied to dollar-backed tokens. These increases are consistent with what local residents describe. Crypto is not simply held. It is spent, saved and passed on as money.
Venezuelan bolivar. Source: Holger Kleine/Shutterstock
Many Venezuelans receive remittances from abroad and convert them into USDT before bringing value home. Others sell goods or services and ask to be paid in stablecoins to avoid sudden losses.
Conversion is usually done via messaging apps, local brokers or P2P platforms. The process is simple, but depends heavily on trust and access to liquidity.
Government response and market risks
The authorities have reacted mixed. Some unofficial dollar markets have been targeted, while limited cryptocurrency-based currency conversions have been allowed in certain cases.
Reports have also linked state-owned companies to using cryptocurrencies to access foreign funds. At the same time, sudden rule changes remain a risk. Crackdowns, new compliance requirements or exchange restrictions could disrupt access overnight.
Featured image from Pexels, chart from TradingView
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