TRM Labs Underscores Venezuela's Positive Crypto Adoption in a Risky Ecosystem

In a recent report, TRM Labs sustained that organic adoption dominates trading volumes, as stablecoins have become a key driver for Venezuelans navigating economic instability and exclusion from traditional global settlements and payments platforms, even in an ecosystem with structural risks.

TRM Labs: Venezuela’s Organic Crypto Adoption Surpasses Illicit Activity

TRM Labs, a global blockchain forensics and analytics firm, has discussed the current state of the cryptocurrency ecosystem in Venezuela against a backdrop of increased sanctions.

In a recent article, the firm acknowledged that, even with renewed global compliance concerns, the usage of stablecoins remains primarily driven by “necessity rather than speculation or criminal intent.”

TRM Labs found that stablecoin adoption in Venezuela follows a similar pattern observed in countries like Argentina, becoming key actors in both household and commercial transactions as dollar proxies.

For the firm, three elements act as drivers of stablecoin adoption in the current Venezuelan economic context: persistent macroeconomic instability, a limited trust in traditional banking infrastructure, and an increasing demand for alternative cross-border payment tools.

TRM Labs stated:

Stablecoins now operate as a substitute for retail banking — facilitating payroll, family remittances, vendor payments, and cross-border purchases in the absence of consistent domestic financial services.

Nonetheless, TRM Labs also identified several vulnerabilities within the Venezuelan ecosystem that might be exploited to avoid unilateral sanctions. These include the rising popularity of P2P (peer-to-peer) transactions, the use of hybrid fintech structures that combine banking services with blockchain wallets, and the existence of cross-border flows featuring “short-lived” wallets.

The TRM Labs’ report comes as the U.S. government recently confiscated a tanker containing Venezuelan oil, an action that was labeled as “piracy” by Venezuelan authorities.

Previous reports have linked the sale of Venezuelan oil to third parties to stablecoin transactions, though no official statements have been made, neither confirming nor denying these allegations.

Finally, TRM Labs concludes that, if nothing changes, the relevance of stablecoins in Venezuela is expected to keep increasing, as everyday citizens continue to rely on these tools as inflation and devaluation hedges.

The firm’s own stablecoin crypto adoption report ranked Venezuela as the 11th country with the most stablecoin usage during the first half of 2025.

Read More: Economist: USDT Leveraged to Settle Crude Oil Sales in Venezuela

FAQ

• What recent insights did TRM Labs provide about cryptocurrency usage in Venezuela?
  TRM Labs highlighted that stablecoin usage in Venezuela is primarily driven by necessity due to increased sanctions and economic instability.

• What patterns of stablecoin adoption were observed?
  Stablecoin adoption in Venezuela mirrors trends in Argentina, serving as a dollar proxy in both household and commercial transactions.

• What factors are driving stablecoin usage in Venezuela?
  Three key drivers include macroeconomic instability, a lack of trust in traditional banking, and growing demand for alternative cross-border payment methods.

• What future trends are expected for stablecoins in Venezuela?
  TRM Labs anticipates that stablecoins will become increasingly relevant as Venezuelans continue to rely on these digital assets to hedge against inflation and devaluation.