Venezuela’s stablecoin use case grows amid war threats, ongoing sanctions

Venezuela’s reliance on stablecoins could deepen if the Trump administration acts on its war threat, further destabilizing the South American nation.

Venezuela’s dependence on US-dollar pegged stablecoins could deepen amid a new threat of war, ongoing sanctions and the hyperinflation of the bolívar. 

Earlier this week, the US Department of Defense deployed its most advanced aircraft carrier to the Caribbean near Venezuela, as President Donald Trump signaled plans to conduct military strikes against drug cartels operating throughout the South American country.

Trump has accused Venezuelan cartels of smuggling illicit substances into the US, fueling an opioid and narcotics epidemic. Venezuelan President Nicolás Maduro has dismissed the claims, pleading with Trump to refrain from starting a war.

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