Binance Dollars Venezuela Replace Bolívar at 229% Inflation

September 7, 2025 — As annual inflation in Venezuela surges to 229%, stablecoins, especially Tether’s USDt, known locally as “Binance dollars” are overtaking the bolívar for everyday payments. From groceries to salaries, stablecoins have become the de facto money for millions navigating the country’s collapsing financial system.

Stablecoins Replace the Bolívar

Once limited to crypto-savvy users, USDt has spread across Venezuelan society. Mauricio Di Bartolomeo, co-founder of Ledn, said stablecoins now pay for everything from groceries to condo fees, vendor services, and salaries.

“People and companies prefer to price their goods and services in USD, and receive payment for the same in USD,” Di Bartolomeo told Cointelegraph, noting that USDt has become a financial equalizer across social classes.

Parallel Rates and Preference for Binance Dollars

Today, Venezuela operates with three dollar exchange rates:

• Official Central Bank (BCV) — 151.57 bolívars per USD
• Parallel market — 231.76 bolívars per USD
• USDt on Binance — 219.62 bolívars per USD

Most vendors and consumers favor the Binance dollar rate for its liquidity and reliability, sidelining the state-controlled BCV benchmark.

Growing Crypto Adoption

Chainalysis ranks Venezuela #18 globally in crypto adoption and #9 on a per-capita basis. Stablecoins accounted for 47% of all transactions under $10,000 in 2024, while overall crypto activity grew 110% year over year.

Even routine household expenses like gardening and security services are now quoted in stablecoins, underscoring their role in daily life.

Capital Controls and Parallel Markets

Venezuela’s government maintains strict capital controls, allocating official USD mostly to regime-connected firms. These dollars are resold at parallel rates, fueling black markets.

“Capital controls also create a parallel market for cash and stablecoins, as economic actors refuse to accept the worthless local currency,” Di Bartolomeo explained. “If and when they reluctantly accept it, they rush to trade it into stablecoins or USD.”

Extra Context: A Regional Trend

Venezuela is not alone. Countries such as Argentina, Turkey, and Nigeria also see residents turning to stablecoins to preserve purchasing power amid soaring inflation and currency collapse. For Venezuela, sanctions on its oil sector have further accelerated this trend, with reports that some local banks now sell USDt directly to businesses.

Conclusion

The rise of Binance dollars in Venezuela reflects how stablecoins are reshaping financial life in countries plagued by inflation and capital controls. With the bolívar effectively sidelined, stablecoins like USDt are filling the void, providing citizens with a more stable and reliable medium of exchange.

The Talk

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KOLsMediaCommunity

❤️This make me happy. 🔥Venezuela’s New Dollar.🫦 ᯓ With inflation blasting to 229%, the bolívar is basically dead money. Stablecoins—especially Tether’s USDt, aka “Binance dollars”—now run daily life in Venezuela, from groceries to condo fees. Vendors price in USDt, not https://t.co/pjKClCI7Il

Trendy🌈⃤

@Doghablaespanol

about 21 hours ago