๐ A global payments rail arrives in the national financial system
The cross-border payments fintech Thunes announced that Venezuela has joined its direct disbursement network, connecting the countryโs banking infrastructure with international banks and payment gateways around the world. In practice, members of the network will be able to settle funds into Venezuelan accounts through the Immediate Interbank Credit system, mobile wallets, and authorized cash pickup locations, with a clear promise: fewer intermediaries and settlement times approaching instant.
For PitbullChain, this isnโt just a banking headline. Itโs the first concrete sign that a global operator with dozens of regulatory licenses has decided to bet on the Venezuelan corridor, a market that for years has relied on workarounds: money managers, informal exchange houses, Zelle with limits, PayPal with friction, and a USDT P2P market that became the real highway for money.
๐ The two drivers behind the move
Thunes didnโt show up by chance. Two dynamics underpin the business:
๐ 1. Family remittances
Remittances from the diaspora support a huge share of Venezuelan households โ industry estimates put it at nearly 35% โ and are estimated at around $6 billion a year, equivalent to approximately 7% of GDP. Nearly half comes from the United States, with significant corridors in Latin America and Europe. Any rail that makes these transfers cheaper or faster has a direct impact on domestic consumption.
๐ฐ 2. The freelance economy
Thousands of Venezuelan professionals work for foreign platforms and get paid in digital dollars. For years, the only way to cash out was P2P: sell USDT for bolivars on exchanges, absorb the spread, and trust the counterparty. Thunes is targeting exactly this friction when it talks about reducing costly intermediaries.
๐ก๏ธ The elephant in the room: overcompliance
The point Thunes highlights โ its proprietary treasury system and compliance platform backed by more than 50 global licenses โ isnโt marketing. Itโs the answer to the problem that has historically held back correspondent banking: overcompliance. Many international banks, fearing sanctions and fines, would rather shut down the Venezuelan corridor than risk an investigation. If Thunes can demonstrate traceability and robust AML controls, it could open a door that has been sealed for years.
In practical terms for users: the name โThunesโ may never appear on your account statement. Youโll see it as a new option within your bank or wallet, with KYC requirements that are probably stricter than what youโre used to.
โ ๏ธ What happens to the P2P and USDT market?
Hereโs the analysis weโre interested in. Venezuelan P2P doesnโt compete with traditional banking: it replaces it when banking fails. If a formal rail can deliver bolivars in minutes at a reasonable cost, the result will be a narrowing of the spread. Today, people moving money from abroad to Venezuela typically pay between 3% and 8% in fees, exchange-rate costs, and P2P discounts. That cushion is whatโs at stake.
Nevertheless, at PitbullChain, we see three reasons why USDT wonโt lose its crown:
โข Limited coverage: a banking rail serves people with an account who pass KYC; P2P serves those who donโt.
โข Hours and amounts: P2P operates 24/7 with no rigid limits.
โข Store of value: many Venezuelans donโt just move money; they save in stablecoins. A payout in bolivars doesnโt address that.
The most likely outcome is coexistence: large, recurring volumes shift to the formal rail; small, urgent, or informal transfers stay on Binance P2P and in Telegram groups.
๐งญ Impact on the dollar and the exchange rate
More remittances coming in through formal channels mean more liquid foreign currency in the system and, in theory, downward pressure on the parallel exchange rate. But be careful: if the funds are converted into bolivars at the official rate, the effect is passed on to the BCV and the exchange-rate gap. The Venezuelan market has already shown that the gap doesnโt close by decree, but through real flows and trust. A more efficient corridor helps, but itโs no silver bullet.
๐ Read the full article: https://pitbullchain.com/noticias/thunes-activa-pagos-instantaneos-a-venezuela-jaque-al-mercado-p2p-651466
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๐ Live rates and analysis at https://pitbullchain.com
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