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Cuban residents turn to crypto in the face of U.S. sanctions and collapsing currency

A recent estimate suggests that more than 100,000 Cubans are now using cryptocurrencies, with the number of residents embracing them growing at an exponential rate. Some cafe owners even accept payments in store for two of the most well-known digital assets, Bitcoin and Ethereum. Most Cubans cannot utilize internationally accepted credit or debit cards such as Visa or Mastercard because of U.S. sanctions. The Cuban central bank announced at the end of April that it would issue licenses for virtual asset service providers (VASPs)

Source: finbold.com

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