Venezuela will integrate Bitcoin and stablecoins into the banking system

ChainCatcher news, Venezuelan payment processing company Conexus is developing a system that will integrate Bitcoin and stablecoins into the country's banking network, expected to launch as early as December.

The system will allow banks to offer cryptocurrency asset custody, transfers, and fiat exchange services, providing users with bank-level security. Conexus President Gasparri stated that this move is in response to the demand for addressing currency fluctuations in Venezuela, where local residents have widely adopted stablecoins as a means of preserving value.