Venezuela’s dollar shortage deepens, pushing companies toward stablecoins

As dollar liquidity tightens further in Venezuela, a growing number of companies are turning to stablecoins as an alternative means of payment.

According to Crypto Valley Journal, a cryptocurrency-focused outlet, the decline in U.S. dollar supply from Venezuela’s central bank has made it harder—especially for mid-sized and small businesses—to secure foreign currency. From mid-January to early March this year, total dollars supplied to the private sector amounted to $1.3 billion, down about 13% from a year earlier.

Against this backdrop, companies are expanding their use of stablecoins as a workaround. Tether (USDT), in particular, is increasingly viewed as a de facto “parallel currency.” The report said that in Venezuela’s over-the-counter market, USDT trading volume surpassed $70 billion as of 2025, accounting for more than 80% of all crypto activity.

Businesses are using stablecoins to pay suppliers and transfer funds. The report noted that some banks accept bolivars from companies and sell them USDT, which firms then use directly for payments or resell.

State-owned oil company PDVSA was also cited as a major user. PDVSA is said to settle roughly 80% of crude export proceeds in stablecoins—widely seen as a response to U.S. sanctions that have restricted access to traditional dollar payment channels.

Market watchers say stablecoin usage is likely to expand further as long as high inflation and financial sanctions persist.