Overview
- Payment processor Conexus, which handles about 40% of Venezuela’s electronic transactions, is developing a blockchain interbank system for regulated crypto services.
- Banks are expected to offer custody, transfers, and crypto-to-fiat conversion for Bitcoin and stablecoins, with USDT the primary focus.
- The platform is designed to operate within the banking network to enhance traceability, security, and compliance compared with informal channels.
- Conexus cites a tentative December 2025 rollout, with development work, formal approvals, and the final asset list still pending.
- The initiative seeks to reduce reliance on foreign intermediaries and bolster remittances and financial inclusion through domestic rails.