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While Venezuelan banks try to position themselves as a formal channel for buying foreign currency, the crypto and P2P ecosystem has proven to be the real market thermometer. With the recent expansion of 100%Banco in its digital foreign-exchange intervention mechanism, the obvious question arises: is traditional banking ready to take space away from USDT operations, or is it simply joining a scheme that already coexists with de facto dollarization?
## What does 100%Banco’s digital foreign-exchange intervention involve?