Odaily Planet Daily reports that as Venezuela's annual inflation rate soars to 229%, stablecoins like USDT have become the "de facto" currency in the financial system for millions of Venezuelans. Locals are said to refer to Bitcoin as the "Binance Dollar," while the national currency, the Bolivar, has largely disappeared from daily commerce. Hyperinflation, strict capital controls, and a fragmented exchange rate landscape have led people to increasingly prefer stablecoins over cash or local bank transfers. From small grocery stores to medium-sized businesses, USDT has replaced fiat cash as the preferred settlement method. (Cointelegraph)