Venezuela Develops Blockchain Network for Crypto Transactions
- Rodolfo Gasparri, president of Conexus, announced plans to create an interbank blockchain network in Venezuela.
- The network will facilitate custody and transactions of stablecoins and Bitcoin within the national banking system.
- This initiative aims to provide a regulated method for citizens to use crypto as protection against hyperinflation and currency volatility.
- Venezuela is moving towards integrating Bitcoin into its banking infrastructure, with discussions on using it as a national reserve asset amid economic challenges.
Conexus is developing a blockchain-based network to enable Venezuelan banks to process Bitcoin and stablecoin transactions, providing a regulated financial tool against economic instability. The initiative positions Venezuela among nations exploring Bitcoin-backed banking systems.
Source (3.2)https://cryptobriefing.com/venezuela-bitcoin-banking-network-integration/?rand=59535
