Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this week’s edition: Venezuela moves its internal disbursements to USDT, OranjeBTC surges as Latam’s largest bitcoin treasury company, and Argentina negotiates $20 billion lifeline with the U.S.
Latam Insights: Venezuela Embraces USDT, OranjeBTC Rises in Brazil
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Analyst: Venezuela Moves Disbursements to USDT Amid Dollar Drought
Venezuela, whose oil industry faces crippling unilateral sanctions from the U.S. government, is reportedly pivoting to stablecoins as part of a new economic strategy. Asdrúbal Oliveros, managing partner at Ecoanalítica, highlighted the move’s relevance given the dollar drought confronting the government.
On social media, Oliveros revealed the magnitude of this pivot. He stated:
During September, the Venezuelan government made more settlements in USDT than in US dollars, marking a significant shift in the direction of the national exchange rate regime.
While Oliveros did not disclose sources or volumes behind the claims, he has recently reported on the rise of stablecoins and their use, highlighting the growing relevance of these assets to the country’s economic fabric.
OranjeBTC Acquires 3,650 BTC, Surpasses Meliuz as Largest Bitcoin Treasury Company in Latam
More companies are piling into bitcoin, trying to capture the attention of investors and become regional emulators of Michael Saylor’s Strategy. Brazil-based OranjeBTC is one of the latest companies to enter the bitcoin arena.
The company, founded by former Bridgewater Associates partner Guilherme Gomes, has become the largest bitcoin treasury company in Brazil and Latam, recently revealing it had acquired 3,650 BTC for nearly $385 million at an average price of $105,300 since June.
The purchase put the company over Meliuz, which amassed 604.7 BTC at the time of writing. Nonetheless, they are not comparable, as Meliuz is primarily a cashback company, while OranjeBTC is a “pure” bitcoin treasury initiative. Big names are behind its seed funding round, including Gemini’s Cameron and Tyler Winklevoss, legendary cryptographer Adam Back, FalconX, and Mexican tycoon Ricardo Salinas.
Panic Averted: US Treasury Offers $20B Lifeline to Argentina
The market crisis that followed President Milei’s party defeat in the recent elections appears to have been averted after the Trump administration signaled support for a large intervention to replenish Argentina’s reserves.
After a joint meeting with Argentina’s authorities on Tuesday, U.S. Treasury Secretary Scott Bessent praised Milei’s policies, stressing that under his leadership the country had taken “important strides” toward stabilization.
Bessent, who had stated before that all options for stabilization were being considered, revealed that the U.S. was currently negotiating a $20 billion swap line with the central bank. He also hinted at other measures to intervene, including injecting even more funds through the Exchange Stabilization Fund, a facility focused on stabilizing the exchange value of the dollar.
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