Venezuela to Integrate Bitcoin and Stablecoins Into Its Banking System by December
Venezuela is taking a bold step toward national crypto integration, with plans to incorporate Bitcoin (BTC) and stablecoins (USDT) into its traditional banking system by the end of December.
The initiative is led by Conexus, the country’s largest payment processor, which manages nearly 40% of Venezuela’s electronic money transfers. The company is developing a blockchain-based platform that will allow banks to store, send, and convert crypto assets into local fiat currency.
Fighting Hyperinflation With Stablecoins
According to the head of Conexus, the move is a direct response to Venezuela’s widespread use of stablecoins as citizens seek protection from persistent hyperinflation and the depreciation of the bolívar.
“Stablecoins have become an essential financial tool for Venezuelans,” he said, noting that blockchain integration will give citizens safer, more official access to crypto services.
A Milestone for Crypto Adoption in Latin America
The project positions Venezuela as one of the first nations to institutionally integrate blockchain into its banking infrastructure.
If successful, it could accelerate crypto adoption across Latin America, offering a new model for financial inclusion in countries facing economic instability.
With the platform’s launch expected in December, Venezuela’s experiment could redefine how emerging economies bridge the gap between traditional banking and digital assets.
