Daily USDT trades in Venezuela averaged USD 44 million, nearing 75% of the nation’s monthly oil export value.
Venezuela saw USD 1.389 billion in USDT trades on Binance’s peer-to-peer platform between June 11 and July 13, averaging USD 44 million daily. The volume equaled roughly 75% of the country’s monthly oil exports, a key revenue source for the central bank’s foreign-currency reserves.
Local over-the-counter USDT prices reached 840 bolivars, about 15.5% above the official exchange rate. The surge reflects heightened demand for stablecoins amid economic instability and currency controls.
The trend underscores the growing role of cryptocurrencies in Venezuela’s financial system, where traditional banking and foreign exchange access remain restricted.