US Government Plans to Use USDC Stablecoin to Offer Foreign Aid in Venezuela

The US Federal Reserve and Treasury Department would release funds to the Guaidó government, which would then utilize the funds to mint USDC. Then the USDC would be sent to AirTM crypto exchange where they would be distributed to the wallets of Venezuelan medical workers and locals who can withdraw the funds as bolivars at the free market rate.

RIO DE JANEIRO, BRAZIL - Venezuela’s opposition leader, who exiled in Spain, has partnered with US-based cryptocurrency companies AirTM and Circle to facilitate the distribution of funds to healthcare workers in the country on the northern coast of South America.

Circle CEO, Jeremy Allaire, stated that the partnership involved “a collaboration with the Bolivarian Republic of Venezuela, led by President-elect Juan Guaidó, US.-based fintech innovator AirTM, and coordination and licensing with the US government.”

Venezuela went into elections in which Juan Guaidó was declared the president-elect of the country in January 2019. He, however, has failed . . .

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