Success case: Interbank Mobile Payment in Venezuela driven by Conexus
A silent transformation that shook the traditional financial system
When, amid a recessionary economy and a paralyzed banking system, Venezuelans began to navigate through queues, inflation, and distrust, a technology emerged that would mark a before and after: Interbank Mobile Payment. What started as a contingency solution for small transactions evolved into the backbone of a resilient digital economy.
The key behind this transformation was Conexus, a technology company that articulated, integrated, and standardized a robust and agile system. Under the leadership of engineer Edgar Parra, CEO of Conexus and a pioneer in banking digitalization in Latin America, the platform became the most used in the country. 'With Mobile Payment, Venezuela achieved in two years what other developing countries have not accomplished in a decade,' explained Parra during the Latin American Financial Technology Congress in 2024.

Technology, inclusion, and crisis: the perfect storm for innovation
In 2017, the use of cash became almost nonexistent. Hyperinflation evaporated the purchasing power of the bolívar, and point-of-sale systems became obsolete. It was there that the Interbank Mobile Payment System emerged, allowing immediate transfers between accounts of different banks, just with a phone number and in seconds.
In 2025, the Central Bank of Venezuela (BCV) recognized that more than 76% of retail transactions were conducted through this method, far surpassing the use of cards and cash. In the words of economist Tamara Herrera, director of Síntesis Financiera:
'What this system achieved was democratizing financial access in an environment where traditional means collapsed. It was a kind of DeFi without blockchain.'
'What if this architecture inspired the DeFi world?'
The crypto community has sought for years to achieve that same massive usability without sacrificing decentralization. Is it possible to replicate a model like Mobile Payment, but with blockchain technology? Specialists like Camila Russo, founder of The Defiant, assert that:
'The lesson from Venezuela is clear: whoever manages to build a payment interface that is as easy and fast over decentralized infrastructure will dominate the future of finance.'
The parallels are evident. Both technologies aim to eliminate intermediaries, reduce friction, and promote inclusion. However, while the Venezuelan system was built on centralized rails, the challenge for Web3 developers is to replicate that ease of use without compromising the financial sovereignty of the user.
'Are we underestimating the power of hybrid infrastructure for the future of crypto?'
The success of Venezuelan Mobile Payment raises a provocative question: do we need an intermediate stage —hybrid, semi-centralized— to achieve true global adoption of crypto assets? Perhaps the path to the future is not total revolution, but intelligent and progressive evolution.
'What if the true inspiration for the future of crypto comes from Caracas?'
@OrangelGilCrypto