Venezuela’s crypto activity more than doubled to $39.1 billion in the 12 months ended June 30, 2026, a 107.2% increase and the fastest growth among Latin America’s five largest crypto markets, Chainalysis said. Venezuela ranked fourth in the region, behind Brazil, Argentina and Mexico, while Colombia was fifth. The region’s crypto economy expanded 9.8% to $593.8 billion, with Brazil remaining its largest market and leading Chainalysis’s global adoption index. Chainalysis linked an 891.7% quarterly increase in crypto outflows from Venezuela to January 2026, when the United States detained President Nicolás Maduro. Stablecoin payments (transactions using dollar-linked crypto tokens) surged as people moved away from the bolívar, while domestic peer-to-peer stablecoin activity briefly exceeded trends in the region’s three largest markets. The firm said crypto provides an alternative to traditional financial services and access to scarce foreign currency in Venezuela and Argentina.