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There's an interesting phenomenon worth discussing. Since 2020, Venezuela has been using USDT extensively for settlement transactions in order to maintain oil trade under international sanctions — in other words, stablecoins have become a tool for circumvention.
Why is this happening? There are mainly two reasons. On one hand, direct USD settlement has been restricted; on the other hand, the long-term devaluation of the local currency combined with capital controls has made USDT a more stable choice. This is not an isolated case — in economies with high inflation and currency depreciation, stablecoins are playing an increasingly important role.
From the perspective of the crypto market, this reflects a larger trend: stablecoins are not just trading tools; they are gradually evolving into an alternative settlement method amid global financial friction. In areas where traditional financial systems are limited, the flexibility of on-chain assets becomes evident. This also explains why demand for such currencies remains strong in emerging markets.