Bitcoin: Venezuela Launches Exchange
Venezuela’s first Bitcoin exchange launches. SurBitcoin is an online platform that allows Venezuelans the ability to buy and sell bitcoins using the bolivar. The Brothers. The exchange was started by two US-based Venezuelan exiles Kevin and Victor Charles. The idea began after meeting Rodrigo Souza, the head of the Brazilian company BlinkTrade – a decentralized open-sourced exchange. After speaking with the brothers, Rodrigo offered the brothers his open sourced software to start the Venezuelan exchange. Their company is currently based in New York. The Exchange. As an open-sourced....
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So far, three Bitcoin exchanges have established themselves in Venezuela. SurBitcoin is by far the biggest, whereas Yabit and Cryptobuyer are relatively new on the scene. Bitcoin remains one of the most popular commodities in all of Venezuela. The country is plagued by hyperinflation, and consumers have very restricted access to financial assets. Bitcoin provides an excellent opportunity to hedge against further inflation of the Bolivar, as well as invest in the future. The month of July has been a particularly good one for Venezuela. The number of transactions per week continues to....
Decentralized finance (defi) is allegedly coming to Venezuela after a recent decree from Venezuelan President, Nicolás Maduro and the United Socialist Party of Venezuela. The government recently introduced a defi platform called BDVE that purportedly provides Venezuelan citizens with the means to swap ERC20 tokens in a noncustodial manner. For quite some time now Venezuela has had to deal with strict economic sanctions. President Nicolás Maduro spoke about these sanctions in a new mandate called the “Anti-blockade Law for National Development and the Guarantee of Human....
All Pizza Hut locations in Venezuela now accept a broad range of cryptocurrencies, including bitcoin, via the payment platform Cryptobuyer. Pizza Hut joins Burger King, Intercontinental Hotel, Traki, and several other major stores in Venezuela that accept bitcoin. Pizza Hut Accepts Bitcoin Cryptobuyer announced on Friday that all Pizza Hut restaurants in Venezuela now accept cryptocurrencies, including bitcoin. The company wrote: From today, you can share with your family and pay with cryptocurrencies … in any of the Pizza Hut restaurants in Venezuela. The announcement adds that....
Venezuela is reportedly paying companies in allied countries, including Iran and Turkey, with bitcoin to mitigate the effects of U.S. sanctions on its economy. The Venezuelan government is also planning to increase bitcoin usage now that it has a dedicated cryptocurrency mining center. Venezuela Uses Bitcoin to Pay for Imports Venezuela has been using bitcoin to pay for imports from allied countries, local news outlet Runrun.es reported this week. The government of President Nicolas Maduro is also planning to increase its usage of bitcoin in trade now that the Venezuelan Army is actively....
Analysts from Venezuela have expressed their worries about the expulsion of a number of Russian banks from SWIFT, an international messaging system that allows the interconnection of banks. These measures could affect the finances not only of Venezuela, but also of other countries in the region, damaging their capability to move funds, which is highly dependent on services provided by Russian banks.
Russian Banks’ SWIFT Expulsion Could Affect Venezuela
The recent announcement of the expulsion of some Russian banks from the SWIFT payments system has raised concern about the....