📊 A silent giant in Venezuelan banking
While the crypto ecosystem in Venezuela continues to gain ground, traditional banking is not standing still. The Digital Bank of Workers (BDT) has just released figures that draw attention: a year-over-year growth of 917.7% in its net result, well above the system average. But what does this mean for those who operate with USDT, do P2P, or keep a close eye on the dollar?
For PitbullChain, this news is not just a banking figure. It’s a sign that digital money and traditional finance are converging in Venezuela, and the BDT seems to want to play in both arenas.
📈 The figures that move the real economy
According to Aristimuño Herrera & Asociados, the BDT accumulated a gain of 10,389.8 million bolívares, equivalent to about 21.3 million US dollars. Its ROE stood at 47.63% and its ROA at 9.69%, both well above the average. But what’s most interesting for our audience is the performance of its deposits: they grew 328.8% in bolívares, but fell 28.5% in dollars. In other words, people deposit bolívares, but flee from bank dollars.
This reinforces what we already see in P2P: many Venezuelans prefer to keep their savings in USDT, cryptocurrencies, or cash in dollars outside the system. The bolívar’s loss of value versus the US dollar makes deposits in local currency only a bridge to cover immediate expenses.
🔎 Loan portfolio: an opportunity for commerce?
The BDT also reported a loan portfolio that grew 647% in bolívares and 24.6% in dollars, reaching 124.2 million US dollars. Its delinquency ratio is low, at just 0.55%, indicating healthy management. But here’s the figure that matters most to us: the bank is injecting liquidity into businesses affected by the La Guaira earthquake, even setting up BDT POS point-of-sale terminals.
In the crypto world, traditional point-of-sale terminals are seen as competition, but also as a gateway to digitalization. If the BDT manages to get merchants to accept electronic payments, this could encourage the use of digital wallets and, eventually, integration with cryptocurrencies. It wouldn’t be far-fetched to think about a future where the same merchant accepts both BDT POS and USDT.
💰 Assets, equity, and the fight for market share
The BDT moved up to seventh place in the asset ranking, with a total of 506.5 million US dollars. Its equity grew 708.8% in bolívares and 34.9% in dollars, reaching 89.4 million US dollars. This not only strengthens the bank, but also positions it as a serious competitor to traditional banking and fintechs.
Despite the crypto boom, in Venezuela there is still a majority that doesn’t trust cryptocurrencies or doesn’t know how to use them. Banks like the BDT can be the bridge for that transition. By offering digital services, mobile banking, and a network of contacts, they normalize the idea of making electronic transactions. And as more people get used to the digital world, the natural next step will be to explore USDT and other assets.
🛡️ What does this mean for P2P and USDT?
The BDT’s expansion doesn’t mean that P2P is going to disappear. On the contrary: people will keep using USDT as a refuge against inflation and devaluation. However, digital banking is growing and offers a complementary alternative for those who need credit services or formal solutions.
On the other hand, growth in bolívares is an indicator that liquidity in the banking system is still increasing, which can put pressure on the exchange rate. In the P2P market, we see that rates move according to supply and demand for bolívares. If banks inject more loans, there could be more bolívares circulating, and that affects the US dollar’s price on the parallel market.
In addition, the decline in dollar deposits confirms that Venezuelans don’t trust the bolívar or bank dollars. They prefer to keep their savings in USDT, which gives them independence from the system. This is a clear signal for those who do P2P commerce or move capital between the banking system and P2P.
📖 Read the full article: https://pitbullchain.com/noticias/bdt-crece-917-y-reconfigura-la-banca-que-hay-detras-para-el-p2p-841707
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