Venezuela to integrate Bitcoin and stablecoins into banking system

Venezuela is taking a major step towards bridging traditional banking and blockchain technology. Connexus, the country's leading payments company, is developing a new system. This will allow banks to directly handle stablecoins such as Bitcoin and USDT. The project aims to introduce digital assets into the national banking network and could start as early as December 2025.

Connexus leads the blockchain banking shift

Conexus controls about 40% of Venezuela's electronic funds transfers. This has made the company one of the most influential payment processors in the country. Its new blockchain-based system will enable banks to provide storage, transfer, and fiat exchange services for cryptocurrencies such as Bitcoin and stablecoins.

Connexus President Rodolfo Gasparri explained that the move comes as Venezuelans are increasingly turning to stablecoins to protect their savings. “We are working on blockchain projects because currencies are very volatile,” he said. “Venezuela people are using stablecoins for hedging, and now banks will be able to provide these services with proper regulation.”

Responding to currency devaluation

Venezuela has faced sharp currency depreciation and high inflation for many years. As a result, many citizens have adopted stablecoins like Tether to maintain purchasing power. By integrating cryptocurrencies into banking systems. Governments want to give people a safer and more transparent way to manage their digital assets.

Gaspari emphasized that this initiative will change the way cryptocurrencies are viewed in the country. He pointed out that bringing cryptocurrencies under banking regulation will provide security for users and ensure transparent oversight. “This system will properly regulate the circulation of Bitcoin and USDT and provide real protection to holders,” he said. If successful, this would be one of the first national integrations of blockchain assets within traditional financial networks. This is a major milestone for Venezuela's banking system.

Potential models for other countries

Analysts say the Venezuelan project could serve as a blueprint for other countries looking for ways to blend blockchain and traditional finance. Many developing countries face similar economic challenges. This also includes inflation and fluctuating exchange rates. If Venezuela's model works, it could encourage other countries to adopt similar solutions to stabilize their financial systems.

This initiative also reflects global trends among banks and payment companies. Blockchain technology is gradually being introduced to make transactions faster, cheaper, and more efficient. By launching this system, Venezuela could establish itself as a pioneer in crypto-based banking.

For the future

The system is still in development, but early signs suggest it could be up and running by December. Connexus believes this project will be a turning point in the country's financial history. It allows citizens to manage their crypto assets as easily as they manage cash. Essentially, this simplifies financial management for everyone.

If implemented smoothly, Bitcoin and stablecoins will be integrated into Venezuela's banking system. It could reshape the country's financial situation. More importantly, it could give people more stability and control over their money in a country where the value of the local currency continues to fluctuate. Venezuela's bold experiment may soon show the world what a crypto-based banking system actually looks like.