USDT Emerges as Venezuela’s Financial Social Network as Trading Hits $1.39B, Rivaling Oil

• Binance P2P users traded $1.389B in USDT, averaging nearly $44M daily in Venezuela.
• USDT volume equaled 64.2% of June BCV dollar sales, highlighting pressure on formal banking.
• P2P turnover reached about 52% of monthly oil export value, showing scale without equivalence.

Venezuela’s peer-to-peer dollar market runs through USDT, giving users a parallel route for payments, savings, and hard-currency access.

Between June 11 and July 13, Ecoanalítica estimated that Binance P2P users exchanged at least 1.389 billion USDT, averaging nearly 44 million USDT per day. The scale now resembles a financial social network, connecting buyers and sellers beyond traditional banking channels.

Binance P2P Challenges the Formal Currency Market

Ecoanalítica co-founder Alejandro Grisanti described Binance’s marketplace as one of Venezuela’s leading foreign-exchange channel…

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