The venezuelan national cryptocurrency is based on the DASH blockchain, and has many characteristics of a CBDC.
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Venezuela Might Be Affected by Russian Banks’ SWIFT Suspension
Analysts from Venezuela have expressed their worries about the expulsion of a number of Russian banks from SWIFT, an international messaging system that allows the interconnection of banks. These measures could affect the finances not only of Venezuela, but also of other countries in the region, damaging their capability to move funds, which is highly […]
P2P payments spurred crypto adoption across Venezuela in 2021
Venezuelans tried to fight inflation this year by using cryptocurrencies on an unprecedented scale in the country.
Some Crypto Transactions Could Be Hit with 20% Tax in Venezuela as New Law Passes
Certain crypto and foreign currency transactions in Venezuela will be taxed at up to 20% after the government and parliament signed off on a rule aimed at reducing inflationary pressure on the troubled fiat bolivar….
Read More: Some Crypto Transactions Could Be Hit with 20% Tax in Venezuela as New Law Passes
Venezuelans reportedly hit by new Bitcoin tax of up to 20%
Bitcoin adoption has been on the rise in Venezuela in recent years amid hyperinflation and the national currency crisis.
Pensioners of the National Oil Company Will Receive 2 Petros as a Gift in Venezuela
The pensioners of the state-owned oil company of Venezuela, PDVSA, have started receiving a Christmas bonus in petros (PTR), the first national cryptocurrency launched back in 2018. The petro, which is backed by Venezuelan oil and other resources, can be traded in local exchanges for these pensioners to access fiat currency, as the reach of […]
Volatility, hyperinflation and uncertainty: How everyday Venezuelans are using stablecoins to protect their livelihoods
Customers of stablecoin payment app Reserve express their dependency on technology for everyday transactions.
BCH House Venezuela Shows Real Cryptocurrency Adoption in First Documentary
BCH House Venezuela, an adoption organization, has published its first documentary on social media, where it shows the way in which Venezuelans are using cryptocurrency as a means of exchange. Roberto García, the founder of this initiative, shows us the level of adoption the BCH House initiative has reached in Barquisimeto — a city in […]
Axie Infinity Finds Ready Players in Hyperinflation-Racked Venezuela
The cryptocurrency-powered video game Axie Infinity is seeing strong uptake in Venezuela, where some players are making enough money to feed their families – against the backdrop of a quadruple-digit inflation rate that’s the highest in the world.
Venezuelans promised Axie Infinity scholarships for crypto training courses
The initiative is a part of the La Guaira Digital program, which aims to fast-track growth and induce economic stability in the country.