USDC Facilitates The Distribution of Donations in Venezuela
Opposition leaders in Venezuela have joined forces to skirt Maduro’s controls and allow medical health workers in the country receive donations in crypto tokens, a Fox News report on Dec 25 shows. The goal is to facilitate the flow of funds from international donors now that Maduro, though not recognized by the United States and over 50 nations as the legitimate leader of Venezuela, holds sway of Caracas’ courts.
Earlier, the private firm said it was working with the United States government and Airtm, a cryptocurrency exchange serving Latin America countries, to transfer (predominantly using USDC) “desperately needed aid to front-line medical workers.” The CEO of Circle said despite this challenge, medical aid workers working inside Caracas and Venezuela can still access funds using VPN installed on their smart phones or computers.
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