News

Crypto Neobank Wallbit Leaves Venezuela Due to Sanctions

Coins Legend February 28, 2023 0

Wallbit, a crypto-enabled neobank, announced it would stop serving users in Venezuela after its banking partner in the U.S. called on it to do so. The platform announced this move was the direct result of the economic sanctions that the country is currently facing, and that Venezuelans outside

News

Reports Indicate USDT Is Being Used in Venezuela to Facilitate Settlements and to Avoid Sanctions

Coins Legend February 27, 2023 0

Some companies in Venezuela are using the stablecoin tether as a way of sidestepping sanctions and settling payments with foreign customers and providers. Local reports indicate that, while the most popular use case for the stablecoin involves its purchase for devaluation shielding purposes, a handful of companies are also harnessing it in this way. Companies […]

Market updates

Crypto Exchange Coincoinx to Launch Crypto to Fiat Payments App in Venezuela

Coins Legend July 2, 2022 0

Coincoinx, a cryptocurrency exchange, will reportedly launch a service that will allow users to skip trading crypto for fiat to make payments in Venezuela. The service, which is called Coinpago, will allow users to make payments in every store and retailer in the country that accepts Pagomovil, a banking service that allows seamless fiat transfers […]

Market updates

Cryptocurrency Exchange Uphold Leaves Venezuela Due to US Sanctions

Coins Legend June 24, 2022 0

Uphold, a New York-based cryptocurrency exchange, has announced it is closing its operations in Venezuelan markets. The company, which has already had problems with users in the country in the past — shutting down accounts and requiring KYC controls that some users deemed excessive — declares that the exit from Venezuela has to do with […]