The international port of El Guamache, on Margarita Island, was the departure point for an operation that sounds like biomass but in practice is a currency movement: from Nueva Esparta, 147,000 tons of seaweed were shipped to Chile, South Korea, and China, according to the Ministry of Transport. The day included 347 containers between loading and unloading and, in total, handled 2,505 metric tons of assorted cargo.

The news is reported by Banca y Negocios, and at first glance it looks like yet another piece of foreign trade data. For those operating in the Venezuelan market, however, the question is not how many tons left, but what currency it will be paid in and through which channel that money will enter.

📊 A container of algae is also a container of invoices

When the cargo leaves the dock, the exporter does not get paid in bolívares. They get paid in dollars, in yuan, or in the currency they agree on with their Asian or Chilean buyer. This payment can come via international bank transfer, via an account abroad, or increasingly in stablecoin format.

In practice, the typical cycle of a mid-sized Venezuelan exporter looks like this: invoices abroad, receives payment in hard currency, pays for freight, suppliers, packaging, permits, and payroll on the island, and then decides what to do with the surplus. It’s that surplus that shows up in P2P.

📈 From the dock to the wallet: the USDT route

It’s not that the algae are sold in crypto. What happens is that USDT has become the informal settlement layer for a large part of Venezuelan foreign trade—especially when you need to pay quickly and without banking friction. An operator gets paid abroad, buys USDT, sends it to their wallet, and converts it to bolívares via P2P to cover local expenses.

This circuit has three specific effects on the market:

🔎 1. More supply of foreign currency in P2P

An export settled this way can inject USDT or dollar supply into the Margarita market, which is already one of the most active in the country. More supply, in theory, pushes the parallel exchange rate down.

💰 2. Less pressure on reserves and more on the spread

If the money stays in external accounts, in goods, or simply isn’t converted, the impact on the local exchange rate is minimal. The key is what percentage of that flow actually lands in bolívares and at what pace. That’s where the BCV reference and the parallel dollar start to diverge again.

🛡️ 3. Pressure on digital banking

Venezuelan banks are still constrained when it comes to processing international trade payments without going through complicated correspondent arrangements. This pushes exporters toward crypto gateways, regional exchanges, and private agreements. Local digital banking is, once again, watching the match from the stands.

⚠️ Nueva Esparta, an uncomfortable economic laboratory

Margarita has tourism, duty-free port trade, and now a growing algae export. It also has an active community of P2P operators, businesses that accept USDT, and a de facto dollarized economy. El Guamache is, in that sense, the place where traditional commerce and the crypto market brush up against each other without making noise.

If the algae route to Asia consolidates, we’ll see something interesting: local companies needing multi-currency accounts, accounting tools to record transactions in crypto, and advisory services to avoid making mistakes with ISLR and VAT.

🧭 What to watch

First, the sustainability of the resource. Extracting algae without traceability is a one-cycle business. Second, the international prices of derivatives—especially carrageenan and agar-agar—which are the ones that truly drive Chinese and Korean demand. Third, formalization: invoicing, filing, and being able to demonstrate the origin of funds is what separates a serious exporter from an operator who only trades foreign currency.

📖 Read the full article: https://pitbullchain.com/noticias/algas-venezolanas-al-mundo-147-000-toneladas-que-tambien-mueven-el-dolar-p2p-848087

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