Overview
- Ecoanalítica estimated that about 1.389 billion USDT changed hands on Binance’s peer‑to‑peer market in Venezuela during the June 11–July 13, 2026 period, an average near $44 million per day.
- That on‑chain volume compares to a large share of Venezuela’s export and official foreign‑currency receipts but ranges from roughly 52% to 75% of monthly oil export value depending on the oil price and methodology used.
- State oil firm PDVSA began accepting or requiring USDT prepayments for some cargoes in 2023–2024, which helped link stablecoin settlement to commodity trade and expanded USDT use in the economy.
- Tether has frozen hundreds of millions of dollars in wallets tied to sanctions evasion and said it cooperates with U.S. authorities, a move that highlights rising regulatory and sanctions risk for on‑chain flows.
- For Venezuelans, larger USDT channels mean easier access to dollar‑linked value outside banks but also wider price spreads for the bolívar and the risk that tougher enforcement or increased central bank FX supply could shift where people buy and sell foreign currency.