TRM Labs has reported that cryptocurrency usage in Venezuela is largely organic, with stablecoins playing a central role as citizens navigate economic instability and limited access to global payment systems.
The blockchain analytics firm said adoption is primarily driven by everyday financial needs rather than speculation or illicit activity, despite the country’s complex compliance environment.
According to TRM Labs, Venezuela’s crypto ecosystem mirrors trends seen in other inflation-hit economies such as Argentina, where stablecoins function as informal dollar substitutes.
The report found that stablecoins are increasingly used in household spending, commercial transactions and small business operations across the country.
TRM Labs identified persistent macroeconomic instability as a key driver pushing citizens towards digital assets for savings and payments.
Limited trust in domestic banking infrastructure was cited as another major factor accelerating stablecoin usage.