"Fred Ersham, co-founder of U.S.-based cryptocurrency exchange Coinbase and Paradigm, a venture capital firm, has traveled to Venezuela several times and has been meeting with government officials, including interim president Delcy Rodriguez and U.S. Interior Secretary Doug Burgum, according to Bloomberg. The reason behind these visits would be to explore investments as the country aims to reinsert itself in the international economic system."
"Ersham, with a net worth of $2.6 billion, would be interested in investing in several sectors of the Venezuelan economy, including fintech and payments, but also in energy and gas. He appeared this week in a tech event organized by one of the main state-owned banks, Banco de Venezuela, to promote the country's potential to become the best country in Latam."
"In private meetings with business leaders, Ersham highlighted that assets in Venezuela were deeply undervalued and that now was the moment to invest in the country. Nonetheless, no deal has been disclosed at the time of writing. While Venezuelans have managed to build their own financial infrastructure using cryptocurrency exchanges like Binance as a gateway for stablecoins, the country is ripe for international financial services companies like Coinbase."
Fred Ersham, co-founder of Coinbase and Paradigm, traveled to Venezuela multiple times to meet government officials, including interim president Delcy Rodriguez and U.S. Interior Secretary Doug Burgum, to explore investment opportunities as the country aims to reinsert itself into the international economic system. With a net worth of $2.6 billion, Ersham showed interest in sectors including fintech and payments, as well as energy and gas. He appeared at a tech event organized by Banco de Venezuela to promote the country’s potential. In private meetings, he emphasized that Venezuelan assets are deeply undervalued and that now is the time to invest, though no deals were disclosed. Venezuelans have built financial infrastructure using crypto exchanges like Binance for stablecoins, creating room for international firms to provide institutional services.
Read at news.bitcoin.com
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