Venezuela uses USDT to circumvent sanctions - Chainalysis

Companies in Venezuela use USDT stabilecoin as a way to circumvent sanctions and make payments to foreign partners, according to Chainalysis analysts.
But they specify that more often than not firms convert local currency to USDT for another reason - to protect their capital from devaluation.
"34% of all small retail transactions in Venezuela were in Stablecoin transactions. This is more than in any other country in Latin America," stresses the report.