Venezuela's annual inflation rate reaches 229%, USDT and other stablecoins become a daily payment tool for the public
BlockBeats News, September 7th, according to Cointelegraph, as Venezuela's annual inflation rate soared to 229%, stablecoins such as USDT have become the de facto currency for millions of Venezuelans.
Ledn co-founder Mauricio Di Bartolomeo stated that USDT, once limited to users familiar with cryptocurrency and commonly referred to as the "Binance USD" locally, is now widely used for daily transactions in Venezuela, ranging from buying groceries, paying condo fees, to salary and supplier payments.
Venezuela's national currency, the Bolivar, has almost no practical use in daily commerce. Rampant inflation, strict capital controls, and a fractured exchange rate system have led more and more people to prefer using stablecoins rather than cash or local bank transfers.
Di Bartolomeo commented: "People and companies prefer to price goods and services in dollars and receive dollars." He noted that USDT is now seen as the "better dollar."
También te puede interesar
Ganadores
Últimas noticias sobre criptomonedas
Trump Says Fed Chair Should Cut Interest Rates, Reiterates Criticism of Powell
In the past 24 hours, the entire network liquidated $376 million, with the majority coming from the largest short position
The probability of a 25 basis point interest rate cut by the Federal Reserve in December is currently at 87.2%.
Trump: Will Announce New Fed Chair in Early Next Year
Coinbase International Site to Launch DASH Perpetual Contract Trading
Atención al cliente:@weikecs
Cooperación empresarial:@weikecs
Trading cuantitativo y MM:[email protected]
Programa VIP:[email protected]