What To Know:
- Venezuela’s Conexus is developing a platform to integrate Bitcoin and stablecoins into the national banking network, allowing banks to custody and transfer digital assets.
- The initiative aims to give Venezuelans regulated access to crypto amid inflation and dollar shortages, offering safer storage and fiat on- and off-ramps.
- A pilot could begin by December, positioning Venezuela as one of the first nations to formally merge blockchain with its traditional financial system.
Venezuela is all set to integrate Bitcoin, and Stablecoins into its central banking systems. Conexus, the payments company that already handles roughly 40 percent of Venezuela’s electronic transfers, is building a platform to bring bitcoin and dollar-linked stablecoins into the formal banking system. The project aims to let banks custody digital assets, move them between accounts, and offer on- and off-ramps to bolivars. If it succeeds, the platform would fold previously informal crypto activity into regulated finance and change how many Venezuelans think about holding value.
Venezuela to Incorporate Bitcoin and Stablecoins Into Its Banking System
According to Wu Blockchain, an independent investigator, The move arises from acute economic pressure. The bolivar has lost purchasing power for years. Households and businesses have responded by using stablecoins and bitcoin as alternatives to cash. Conexus chief Roberto Gasparri framed the effort as practical: people need tools to protect savings when local currency swings wildly. He pointed out that two approved mobile apps already enable stablecoin use in the country. He also added that banks could offer a safer environment through custody and compliance controls.
Conexus, a Venezuelan payments firm handling about 40% of the country’s electronic transfers, it is developing a banking‑system integration of Bitcoin and stablecoins (such as Tether USDT).  The planned service will allow banks to offer custody, transfers, and fiat exchange…
— Wu Blockchain (@WuBlockchain) October 31, 2025
This material has not been formally verified by any government officials or and is based on Wu Blockchain, an independent investigator.
Under the proposed architecture, banks would act as custodians while transactions are also recorded on a blockchain for transparency. Liquidity operations and fiat settlements would run through existing payment rails. The design intends to pair on-chain visibility with conventional banking safeguards such as anti-money-laundering checks and consumer protections. Conexus says the approach would reduce counterparty risk for ordinary users who currently move funds through a patchwork of exchanges and informal channels.
There is no confirmed launch date as of yet. Analysts cited by industry observers have suggested a pilot could start as early as December, though Conexus has described the work as early-stage research and development. Even so, the project has attracted attention at home and abroad because its success could set a precedent for other countries facing inflation and restricted access to foreign currency.
On the domestic front, hyperinflation and constrained dollar supplies have pushed many Venezuelans toward dollar-linked stablecoins such as USDT as a way to preserve purchasing power. Chainalysis data places Venezuela among the top Latin American recipients of cryptocurrency by value, ahead of larger nations. For households, the appeal is immediate: faster transfers, reduced fees, and an asset that tracks an external benchmark rather than a collapsing local currency.
Geopolitical shifts have accelerated the trend. Sanctions and tighter relations with the United States have complicated Venezuela’s access to conventional dollar flows. Recent changes in oil sales and correspondent banking arrangements have encouraged Caracas to explore alternative channels. Reported oil-for-crypto arrangements with foreign buyers have introduced new pools of dollar-linked digital assets into domestic liquidity, which in turn makes a crypto and fiat more attractive to policymakers and commercial lenders.
Political voices have already embraced the idea. Some opposition figures describe cryptos as a safe option against seizure and devaluation. They have proposed broader adoption to protect private assets and preserve economic activity. Whether that political enthusiasm translates into legal frameworks or supervisory practice is an open question, but the conversation itself signals institutional acceptance that did not exist a few years ago.
Practical questions remain. Banks will need robust custody protocols, secure key management systems, and clear rules on transaction monitoring. Regulators must clarify how crypto holdings will be treated under capital and reserve rules. Consumers will expect protections similar to those they receive for deposits, which in turn will demand operational and legal commitments from participating banks.
If the platform reaches production, it could become a regional model. Similar economies grappling with inflation and dollar shortages could adopt comparable bridges between blockchain rails and banking networks. That would create opportunities to streamline cross-border payments and reduce reliance on costly correspondent banking relationships.
For now, Conexus presents the effort as a response to the obvious demand and economic necessity. The company emphasizes compliance and collaboration with regulators and payment partners in order to build trust.
Also Read: Switzerland’s MP Calls on Central Bank to Create a Bitcoin Reserve
