Venezuela’s Hyper-Adoption: How 10% of the Population Now Uses Crypto for Survival
The post Venezuela’s Hyper-Adoption: How 10% of the Populaticom. Venezuela’s crypto adoption doubles annually, ranking second in Latin America with $100M monthly P2P volume. Stablecoins like USDT provide an inflation shield for 10% of Venezuelans in daily transactions. The use of cryptocurrencies in Venezuela is doubling every year, a direct response to the persistent erosion of the local currency. The country currently holds second place in crypto adoption in Latin America, a position only surpassed by Brazil. The volume of peer-to-peer transactions in the nation already exceeds $100 million monthly. One in ten people in Venezuela uses these monetary assets as a payment method for everyday transactions. Engineer Aníbal Garrido, director of the Blockchain Trading and Crypto Assets Academy at the Universidad Católica Andrés Bello, provided these figures. Garrido emphasized that Venezuela possesses one of the most robust legal frameworks globally for the crypto asset market. He acknowledged that a higher level of regulatory development is required, but affirmed that the current legal structure is one of the most complete and confidence-building available. Venezuela Regulatory and Operational Mechanisms Only two companies have received authorization from the National Superintendence of Crypto Assets (Sunacrip) to process exchanges of these assets. These operate under the brands Crixto and Kontigo. Garrido anticipates the incorporation of more companies in the short term. The professor clarified that Sunacrip is not closed, but rather under intervention, and maintains operability behind closed doors. This continued operability allows for the issuance of licenses for exchange houses and their transaction applications. Adoption stems primarily from necessity within a complex economic environment. Garrido stated during a presentation at the Conindustria 2026 projections event that Venezuelans are adopting cryptocurrencies out of pure need, not as a trend. Data from the firm Chainalysis confirms that cryptocurrency use in Venezuela is growing at rates exceeding 100% year-over-year. Citizens use these assets for exchange.