The ad appeared a few hours ago on Binance's Spanish Twitter account. And despite the short time in the air, there are already people using the platform.

Binance allowed p2p trading in Venezuelan bolivars. While it may be big for Bitcoin trades in the country, users are now looking for more stable assets, such as the dollar.While Venezuela is still far from being a strong market, the country's political and social conditions have generated a growing community interested in cryptocurrencies. In particular, developers and supporters of Bitcoin, Bitcoin Cash, Nano and Dash used Venezuela as an important testing ground for adopting cryptocurrencies.

Binance's move makes a lot of sense. On LocalBitcoins, for example, a cryptocurrency P2P buying and selling platform, Venezuela has the highest volume in the Americas, surpassing even the United States. Venezuelans trade just over 500 BTC a week, according to data from Coin.Dance.

Right after activating the feature, the first two offers that appeared on the stock exchange were offers to buy dollar-linked stablecoins. Users “Rafim” and “Frandel” started bolivar trading with two ads to buy Tether (USDT) for 127,719 and 128,500 bolivares, respectively. These prices are similar to those of the traditional market, which is very restricted and essentially closed to ordinary citizens due to the control of the foreign currency.

But in Venezuela, this probably has almost nothing to do with dapps, DeFi or other projects. For now, cryptocurrency traders in Venezuela seem to be looking for the same thing that citizens in the country with economic problems have been looking for years: stability in the face of a national fiat currency that has been devalued at an astronomical rate.