Venezuelan migrants, numbering over 7 million globally, sent more than $460 million in remittances back home using cryptocurrency rails in 2023.

This method has become crucial due to economic hardships in Venezuela, with remittances totaling over $5.5 billion, making it one of South America's top remittance-receiving nations.

Approximately 30% of Venezuelan households benefit from these transfers, a number expected to rise according to migration experts.

Cryptocurrencies offer lower transfer fees compared to traditional methods, facilitating efficient and cost-effective transfers for Venezuelan migrants.

Moreover, stablecoins like USDT (CRYPTO:USDT) are used locally for transactions, supporting day-to-day needs amid economic instability and government sanctions.