A system of reliable dollar access can be extremely useful
En un foro sobre el futuro financiero celebrado en Venezuela, el cofundador de Coinbase, Fred Ehrsam, presentó ante la cúpula bancaria del país una visión en tres pilares —monedas estables, acceso cripto a mercados globales y tokenización de activos reales— como posible camino hacia la estabilidad económica y la reinserción financiera internacional. Su propuesta llega en un momento en que Venezuela, dolarizada de facto y emergiendo de años de sanciones, busca reconstruir sus redes de corresponsalía bancaria y reactivar su aparato productivo. La convergencia entre la tecnología blockchain y la apertura institucional sugiere que el país se encuentra en un umbral donde la innovación financiera podría transformar no solo los mercados, sino la vida económica cotidiana de sus ciudadanos.
- Venezuela enfrenta una necesidad estructural de acceso confiable al dólar, y las stablecoins podrían ofrecer protección contra la inflación a un costo de transacción significativamente menor.
- Las criptomonedas reguladas se presentan como puentes hacia mercados financieros internacionales que hoy permanecen cerrados para empresas e individuos venezolanos.
- La tokenización de activos físicos —inmuebles, arte, acciones— podría fraccionar grandes patrimonios en unidades negociables globalmente, desbloqueando capital inmovilizado en un mercado proyectado en 400.000 millones de dólares para 2030.
- El Banco de Venezuela trabaja simultáneamente en restaurar su red de corresponsalía bancaria internacional, aprovechando el alivio de sanciones para reconstruir relaciones financieras deterioradas.
- La confluencia entre la propuesta de Ehrsam y la estrategia institucional del banco crea condiciones concretas para que la integración cripto-financiera pase del discurso a la práctica.
Fred Ehrsam, cofundador de Coinbase, se presentó ante los líderes del sistema bancario venezolano en el foro «Future Finance: A Disruptive Look at the Global Economy» con una propuesta articulada en tres ejes para transformar las finanzas del país. El evento fue moderado por Román Maniglia, presidente del Banco de Venezuela, y el tono de Ehrsam fue de optimismo calculado ante el potencial económico venezolano.
El primer eje apunta al problema más inmediato: el acceso al dólar. Ehrsam argumentó que las stablecoins —divisas digitales ancladas al valor del dólar— pueden funcionar como escudo contra la inflación y reducir drásticamente los costos de las transacciones internacionales. En una economía donde bienes y servicios ya se cotizan en dólares, garantizar ese acceso de forma confiable y de bajo costo no es un lujo, sino una necesidad práctica. Señaló que la banca venezolana ya posee una sofisticación tecnológica considerable, lo que facilita escalar esa infraestructura.
El segundo eje propone las criptomonedas como puentes hacia los mercados financieros globales. Con regulación adecuada, los activos digitales pueden generar confianza y abrir canales de inversión y operación internacional que hoy resultan inaccesibles para empresas e individuos venezolanos. El tercer eje es la tokenización: convertir activos físicos —inmuebles, obras de arte, acciones— en unidades digitales negociables en blockchain, fraccionando la propiedad, mejorando la liquidez y atrayendo inversión extranjera. Los analistas proyectan que este mercado global alcanzará los 400.000 millones de dólares en 2030, y Ehrsam sugirió que Venezuela podría posicionarse estratégicamente si actúa con prontitud.
Paralelo a estas propuestas, Maniglia anunció que el Banco de Venezuela trabaja activamente para restaurar su red de corresponsalía bancaria internacional —las relaciones que permiten operar con instituciones financieras extranjeras—, aprovechando el reciente alivio de sanciones. El banco opera bajo un nuevo marco legal orientado a acelerar la conexión con mercados externos y dar al sector privado acceso a mecanismos de financiamiento tanto domésticos como internacionales. Esta reactivación institucional crea el terreno donde la visión de Ehrsam podría dejar de ser una propuesta y convertirse en realidad.
Fred Ehrsam, the co-founder of Coinbase, stood before Venezuela's banking leadership and outlined a vision for financial transformation built on three interconnected pillars: stablecoins pegged to the dollar, broader access to global investment through cryptocurrency, and the conversion of real-world assets into tradeable digital tokens. He was speaking at a forum called "Future Finance: A Disruptive Look at the Global Economy," moderated by Román Maniglia, the president of Banco de Venezuela, and his message carried an unmistakable optimism about the country's economic potential.
The first pillar addresses a fundamental problem in Venezuela's economy: the need for reliable dollar access. Ehrsam argued that stablecoins—digital currencies anchored to the dollar's value—could serve as a hedge against inflation while dramatically reducing the cost of international transactions. He noted that Venezuelan banking has already achieved significant technological sophistication, and that the infrastructure exists to expand and facilitate currency access. "A system of reliable and consistent dollar access, whether for companies or individuals, can be extremely useful," he said, pointing out that goods and services in Venezuela are priced in dollars, making currency availability a practical necessity for ordinary economic life.
The second pillar centers on cryptocurrency as a gateway to global financial markets. Ehrsam emphasized that properly regulated digital assets can generate confidence and open doors that are currently closed. For Venezuelan companies and individuals, this means potential access to international financial operations and assets that have been difficult or impossible to reach. The mechanism is straightforward: cryptocurrencies can function as bridges to global markets, allowing capital and investment to flow across borders more freely.
The third pillar is asset tokenization—the process of converting physical assets like real estate, art, stocks, or other valuable property into digital units on a blockchain. This transformation allows ownership to be fractioned, improving liquidity and accessibility while securing transactions through unique digital codes. Ehrsam suggested that many Venezuelan assets could undergo this process to attract foreign investment. By breaking down large holdings into smaller, tradeable units on global digital markets, Venezuela could unlock capital that currently sits idle. Industry analysts project the global real-world asset tokenization market could reach four hundred billion dollars by 2030, positioning Venezuela strategically within that emerging transition if it acts now.
Ehrsam pointed to Banco de Venezuela itself as evidence that the banking sector can become more efficient and responsive through adoption of cutting-edge technology, particularly in security and transaction processing. The bank already leads most key indicators in the Venezuelan system, suggesting the foundation exists for broader digital transformation.
Parallel to Ehrsam's proposals, Maniglia announced that Banco de Venezuela is actively working to restore its international correspondent banking network—the relationships that allow Venezuelan banks to conduct business with foreign financial institutions. This effort is part of a broader economic reintegration strategy being led by Venezuela's government, aimed at reactivating the productive economy. The bank is evaluating new financial markets and pursuing access to international financing, taking advantage of recent sanctions relief to rebuild banking relationships that had atrophied.
Maniglia emphasized that the bank is operating under a new legal framework designed to accelerate connections with external financial markets. The strategy is to give the private sector access to financing mechanisms both domestically and internationally. "We are already working with correspondent banking to provide access to all international and domestic financing," he said, noting that the bank is evaluating how to integrate new financial markets under this restructured approach. The roadmap reflects the government's broader push to dynamize the national productive apparatus, creating conditions where Ehrsam's vision of crypto-integrated finance could actually take root.
Notable Quotes
A system of reliable and consistent dollar access, whether for companies or individuals, can be extremely useful. Goods and services are priced in dollars, so people need more currency.— Fred Ehrsam, Coinbase co-founder
We are already working with correspondent banking to provide access to all international and domestic financing, and evaluating how to integrate new financial markets under this restructured approach.— Román Maniglia, president of Banco de Venezuela
The Hearth Conversation Another angle on the story
Why would stablecoins specifically matter more than just using dollars directly?
Because in Venezuela, getting actual dollars is the constraint. Stablecoins live on blockchain—they move instantly, cost almost nothing to send across borders, and they don't require the banking relationships that have been severed by sanctions. You get the dollar's stability without needing a correspondent account in New York.
And the tokenization piece—that's not just about making things digital, is it?
No. It's about unlocking capital that's trapped. A Venezuelan company might own valuable real estate or mineral rights, but it can't easily sell pieces of that to a global investor. Tokenization breaks it into tradeable units on a blockchain. Suddenly a pension fund in Singapore can own a fraction of a Venezuelan asset.
But doesn't that require trust in the system? Why would foreign investors suddenly trust Venezuelan assets?
That's where the correspondent banking restoration comes in. Maniglia is rebuilding the relationships that let international banks settle transactions with Venezuelan banks. Without that infrastructure, even tokenized assets are just digital promises. Together—the banking network plus the blockchain rails—you have both the legal framework and the technical plumbing.
Is this actually happening, or is it still theoretical?
Banco de Venezuela is actively restoring those correspondent relationships right now. They're evaluating new markets and working under a new legal framework. Ehrsam wasn't pitching an idea—he was validating what's already in motion.
What's the risk here?
Execution. And political stability. The infrastructure can exist on paper while the economy remains fragile. Also, if cryptocurrency becomes the primary financial mechanism, Venezuela loses some control over monetary policy. But the alternative—the current system—isn't working either.