Venezuela, officially the Bolivarian Republic of Venezuela, is a country on the northern coast of South America, boasting a rich tapestry of diverse landscapes, from the snow-capped Andes mountains to vast tropical plains (Llanos) and the dense Amazon rainforest. Its extensive Caribbean coastline also features numerous islands and islets. Historically, Venezuela was among South America’s wealthiest nations, primarily due to its immense proven oil reserves, the largest in the world.
However, over the past decade, Venezuela has faced a profound and ongoing socioeconomic and political crisis. Economic mismanagement, corruption, and a significant decline in oil production, coupled with international sanctions, have led to hyperinflation, widespread shortages of food and medicine, and a severe deterioration of public services. Millions of Venezuelans have emigrated seeking better conditions, contributing to a significant humanitarian crisis. The political landscape is marked by deep polarization, with the government consolidating power and frequently repressing opposition voices. Despite some recent policy adjustments aimed at stabilizing the economy, challenges remain substantial, and the nation continues its complex path toward recovery.
A further deepening of Venezuela's dependency on stablecoins could be seen if…
From corner shops to big retailers, stablecoins are being embraced by Venezuelans…
