bancaribe

Bancaribe brought together its partners, sponsors, and the sports community to showcase what the 2026 Bancaribe Route will look like—the run-walk event marking the institution’s 72nd anniversary. The event takes place on Sunday, November 15, starting at the Galipán Business Center in El Rosal and following a route along Francisco de Miranda Avenue. The goal: 4,000 participants across the 10K race and the family-friendly, pet-friendly 5K walk.
But beyond the Everlast-branded sports kit and the timing system, details in the announcement offer a snapshot of the country’s financial landscape. That’s where PitbullChain turns its spotlight.

Bancaribe closed the first edition of Shark Bank, its acceleration and co-creation program with entrepreneurs, and the outcome is more revealing than it seems for Venezuela’s crypto ecosystem. From more than 300 applications, 113 passed the technical screening, 50 were shortlisted, and 14 made it to the Demo Day. In the end, four initiatives received recognition and will start real pilots with the bank, with a revenue-sharing scheme of up to 50% of net transaction commissions during the first year.

📊 Bancaribe continues to rise in the rankings: what’s behind it?
The Venezuelan banking system continues to show signs of movement. According to figures from the consulting firm Aristimuño Herrera & Asociados, Bancaribe closed July with financial income of 20,943.1 million bolívares, about 45.4 million US dollars at the official exchange rate. This represents growth of 1,275.7% in local currency and 191.2% in foreign currency, allowing it to move up from 11th to 9th place in the ranking of income in the financial system.

The conversation about digital transformation in Venezuelan banking stopped being a marketing topic and began to be measured in numbers. Bancaribe reported that it processes more than 4.4 million requests per year through its electronic customer service channels—a figure that confirms something those who operate with cryptocurrencies in the country already suspected: Venezuelan customers no longer want to go to the branch and now handle everything from a phone.
This figure is not small for the P2P ecosystem. Every time a user buys or sells USDT for VES, behind it there is a banking operation: transfers, balance inquiries, key unblocks, token activation, and complaints about payments that never arrived. If the bank doesn’t respond quickly, the exchange collapses and the merchant loses time, margin, or both.