XPost: soc.culture.usa
Wells Fargo shuts off Zelle in Venezuela, but crypto solutions abound
US bank Wells Fargo notified customers that it will no longer support
the use of popular payments service Zelle in Venezuela. Crypto to the
rescue?
In brief
* Wells Fargo told customers in Venezuela on Friday that it will no
longer support the popular payments service Zelle.
* Zelle is among the most popular services in Venezuela to send and
receive US dollars.
* As a fiat door closes, a crypto window may have cracked open.
Venezuelans are no strangers to financial uncertainty. But the sudden
loss of access to digital payments network Zelle last Friday for Wells
Fargo customers in Venezuela still came as a shock for its users.
The news spread quickly throughout social media and became a trending
topic on Twitter in Venezuela as users struggled to work out the details
of the notice Wells Fargo sent out to its banking clients. And crypto aficionados were likewise quick to point out the various alternatives
already in place.
https://decrypt.co/31632/wells-fargo-shuts-off-zelle-in-venezuela-but-crypto-solutions-abound
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