A new initiative aims to integrate stablecoins into the country’s financial infrastructure to combat inflation and modernize payments.

Conexus, a key operator of Venezuela’s banking networks, is planning a major upgrade to the country’s financial infrastructure by integrating blockchain technology. Rodolfo Gasparri, the company’s president, announced that the initiative is designed to support the storage and transfer of stablecoins while modernizing interbank payment processes.

The plan directly responds to the growing number of Venezuelans using dollar-pegged digital assets as a hedge against persistent inflation. Gasparri noted that the nation’s payment network handles approximately eight million transactions daily. With mobile payments quickly gaining ground, he projects their volume will match traditional card transactions by the end of the year, signaling a significant shift in consumer behavior.

Building a Regulated Framework for Digital Assets

According to Gasparri, introducing a blockchain-powered network is a necessary step to address these evolving financial habits. He explained that the new system would not only streamline the flow of funds between banks but also enhance security and strengthen compliance standards. The goal is to create a formal, regulated environment for digital assets within the country’s established banking channels.

The proposed interbank network is expected to reduce operational bottlenecks and lower transaction risks. It would allow banks to interact with stablecoins inside a legally recognized framework, fostering trust and expanding access to modern financial tools. Gasparri drew parallels to developments in Spain, where major institutions like BBVA have already started enabling stablecoin-based transactions.

Collaboration and Modernization

The Conexus president stressed that close collaboration with government agencies and financial supervisors is central to the platform’s rollout. Regulatory backing is essential to ensure the technological upgrades comply with national and international financial standards, helping to avoid the legal uncertainty that has hindered similar initiatives in other regions.

If successful, this move could position Venezuela among the few countries actively embedding stablecoin rails into their national banking architecture. Gasparri concluded that the project aims not only to meet immediate transactional demands but also to lay a foundation for long-term financial resilience. By aligning digital innovation with regulatory oversight, the system is intended to strengthen trust and help the country adapt to rapidly shifting economic conditions.