Volatility, hyperinflation and uncertainty: How everyday Venezuelans are using stablecoins to protect their livelihoods

Volatility, hyperinflation and uncertainty: How everyday Venezuelans are using stablecoins to protect their livelihoods

Last month, Cointelegraph interviewed Reserve CEO Nevin Freeman and the payment decentralized application’s community manager Yens Michiels about the company’s mission to provide access to stable currencies. More recently, Cointelegraph spoke to a couple of users based out of Venezuela and Colombia who shared their positive experiences with Reserve.

Reserve is a tool to exchange fiat currency like Venezuelan bolivares for U.S. dollars via the Reserve (RSV) stablecoin. From everyday purchases to family remittances, Reserve has said that its use cases are increasingly growing in Latin America. After one year on the market in Venezuela, Colombia, Panama and Argentina, there are over 100,000 weekly app visitors and more than 8,000 merchants accepting it as a means of payment.

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