#usdt
đ»đȘ USDT â the financial artery of the Venezuelan economy (WSJ)
âą Venezuela's state oil company, PdVSA, has begun accepting payments for oil in stablecoins, primarily USDT, moving away from banks and dollar transactions.
âą Up to 80% of the country's oil revenue has been processed through cryptocurrency schemes in recent years.
âą Stablecoins allowed for faster money transfers, reduced the risk of blocking, and obscured the final recipients.
âą For ordinary Venezuelans, USDT has become a lifeline: protection from the hyperinflation of the bolivar and a basic savings and payment instrument.
âą Tether finds itself caught between two fires:
- On the one hand, USDT is exploited by sanctions.
- On the other, the company actively cooperates with the US and freezes suspicious wallets.