Amid hyperinflation, Binance USDT becomes Venezuela's de facto currency
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最新报道：According to Bijie.com on October 5th, affected by hyperinflation, which has reached an annual rate of 229%, USDT (USDT) traded on Binance P2P has become the de facto currency, a unit of account and settlement tool, in Venezuelan daily commerce. To avoid the frequent price fluctuations caused by the continued devaluation of the Bolivar, local merchants generally anchor their product prices to the real-time USD exchange rate on Binance P2P for settlement. Due to the scarcity of physical USD, USDT, based on the TRC-20 network, has replaced cash as the preferred choice for small, everyday transfers among households and small and medium-sized enterprises, thanks to its low transaction fees and convenience, achieving a de facto crypto-dollarization driven by stablecoins.
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