PANews September 7 news, according to Cointelegraph, as Venezuela's annual inflation rate soars to 229%, stablecoins like USDT have become the 'de facto' currency for millions of Venezuelans in the financial system. It is said that locals refer to Bitcoin as 'Binance Dollar', while the country's currency, the Bolívar, has basically disappeared from daily commercial activities. Hyperinflation, strict capital controls, and a fragmented exchange rate structure have led people to increasingly prefer stablecoins over cash or local bank transfers. From small grocery stores to medium-sized enterprises, USDT has replaced fiat cash as the local preferred settlement method.