- Local banks will offer custody, transfers, and crypto-to-fiat exchange services.
- The bolivar’s sharp depreciation has driven a surge in stablecoin adoption.
- Conexus currently processes nearly 40% of Venezuela’s electronic payments.
Venezuela is preparing to merge its struggling traditional banking system with digital currencies as payment giant Conexus plans to integrate Bitcoin and stablecoins into the national banking infrastructure.
The move, expected to launch in December 2025, marks a significant step in the country’s financial transformation, offering Venezuelans a regulated channel for cryptocurrency use.
With the bolivar’s persistent depreciation and rising adoption of stablecoins, this development could make Venezuela one of the first nations to formally blend fiat and crypto operations under a unified system.
The integration also reflects Venezuela’s long-standing struggle with international sanctions that have limited access to global banking.
By adopting blockchain-based systems, Conexus aims to provide citizens with a more resilient alternative that can facilitate remittances, domestic transfers, and business payments without heavy dependence on foreign intermediaries and unstable local exchange rates.
The initiative also seeks to improve financial inclusion nationwide, making digital transactions more accessible to individuals and businesses across the country.
Conexus aims to bridge banks and blockchain
Conexus, which currently processes nearly 40% of Venezuela’s electronic transactions, is leading this shift by allowing local banks to offer direct crypto services such as custody, transfers, and fiat conversion for Bitcoin and stablecoins.
The integration seeks to make digital currency access seamless for customers within their regular bank accounts, eliminating the need for external wallets or apps.
The new infrastructure will be built on blockchain technology to enhance transparency and transaction security.
According to the company, the system will enable both individuals and businesses to move between digital and traditional currencies safely, reducing reliance on unregulated exchanges.
Growing reliance on stablecoins amid inflation
Years of hyperinflation have eroded confidence in the bolivar, pushing Venezuelans to rely heavily on stablecoins like Tether (USDT) as a store of value and medium of exchange.
From small retailers to freelancers, many now prefer stablecoins to protect earnings from volatility.
Conexus President Rodolfo Gasparri has highlighted that this surge in stablecoin transactions demonstrates a clear public demand for better integration between crypto and banking systems.
The company’s upcoming model aims to formalise this reality by providing regulated access to crypto within Venezuela’s financial framework, allowing citizens to transact and save using digital assets with greater confidence.
Potential blueprint for emerging economies
The Conexus initiative could reshape not only Venezuela’s financial sector but also set an example for other economies facing currency crises.
By offering a direct bridge between fiat and digital assets, the model could help millions gain access to stable, low-cost, and transparent financial services.
Venezuela’s attempt to merge traditional finance with blockchain technology aligns with global trends toward digitalisation of money, particularly in regions where economic instability drives innovation.
If implemented successfully, this system could serve as a prototype for countries in Latin America and beyond, where inflation and limited banking access continue to affect economic stability.