Crypto Exchange Kontigo Blocks Venezuelan Customers From U.S. Accounts

TL;DR:

• Kontigo blocks U.S. accounts of Venezuelan customers, limiting access to dollars and international payments.
• The action occurs amid hyperinflation and U.S. sanctions, intensifying economic uncertainty.
• Venezuelans rely on the platform to convert dollars into USD Coin and protect funds, but no resumption date has been given, leaving the situation precarious.

Crypto platform Kontigo has frozen U.S. banking services for its Venezuelan users, cutting off access for thousands of people who rely on the app to store and transfer dollars in a country hit by hyperinflation. The measure impacts users who use the platform to protect savings against the bolívar and to make international payments.

¡Hola a todos! Nuestro proveedor de cuentas americanas solicitó una pausa del servicio temporalmente.

Estamos trabajando en encontrarles una solución!!!🙏🏻🧡

Nuestro compromiso sigue intacto, con ustedes y con el país🇻🇪

— Kontigo.com (@kontigo_app) November 21, 2025

Tensions and challenges

The San Francisco-based company, promoted as a “USDC Smart Neobank for Latinos in the U.S. and Latin America,” stated that its U.S. banking provider ordered a temporary suspension of services. Kontigo assured clients that it is working to find a solution, maintaining its commitment to Venezuelan users. This move comes amid political tensions and U.S. sanctions against the Venezuelan government, including the recent designation of President Nicolás Maduro as a member of a foreign terrorist organization.

The impact on the population is significant, as remittances from the U.S. are a critical source of income. Many Venezuelans rely on Kontigo to protect their dollars and make international payments using cryptocurrencies. The company maintains an agreement with Banco Nacional de Crédito to convert dollars into USD Coin, allowing users to store funds more securely.

The situation also highlights a growing demand for crypto solutions in Venezuela, with inflation projected to reach 270 % in 2025. Local retailers increasingly accept cryptocurrency payments, and citizens avoid using the bolívar. Kontigo is one of two authorized platforms in the country and has become essential for enabling dollar and crypto operations.

Although the company says it is working to resolve the suspension, no timeline has been provided for service resumption, nor have full reasons for the measure been disclosed. The uncertainty reinforces the vulnerability of Venezuelans who depend on fintech platforms to maintain liquidity and access to funds amid a complex economic and political environment.