Scope of General License 57 (Financial Services)

We've been preparing for this moment. Today, it's here. 🇻🇪

OFAC just issued General License 57, opening Venezuela's banking system to U.S. fintech, payments, and remittance companies.

Starting April 14th 2026, GL57 unlocks:

1️⃣ Transactions with four Venezuelan banks, including the Central Bank of Venezuela and Banco de Venezuela.

2️⃣ The full payments stack, broadly defined: transfers, digital wallets, mobile money, & card payments.

3️⃣ A legal on/off-ramp corridor connecting U.S.-based stablecoin rails to official Venezuelan banking channels.

4️⃣ Safe harbor protections for intermediary financial institutions.

This isn't a surprise - it's a starting gun. We placed our bets because we knew the unlock was coming and we wanted to be ready on day zero.

We built our stablecoin-powered neobank for cross-border payments across Latin America. Now we can expand aggressively in Venezuela, where I was born and raised.

Scope of General License 57 (Financial Services).

GL57 authorizes financial transactions involving key state institutions: 

• Central Bank of Venezuela (BCV)

• Banco de Venezuela, S.A.

• Banco del Tesoro, C.A.

• Banco Digital de los Trabajadores C.A. 

Authorized Activities: This includes maintaining accounts, USD-denominated correspondent banking, ACH and wire transfers, and the operation of digital wallets and mobile money platforms. It effectively legitimizes the "on/off-ramp" for U.S. fintechs serving the Venezuelan market. 

2. General License 56: Commercial Pre-entry.

GL56 broadens the horizon by allowing the negotiation of contingent contracts across all sectors, including telecommunications, manufacturing, and technology. This allows firms to secure legal agreements today, with performance contingent on future OFAC steps, ensuring they are "day zero" ready. 

3. Fintech & Stablecoin Synergy.

The license provides a Safe Harbor for intermediary banks, allowing them to rely on transfer originators for compliance. For stablecoin-powered neobanks, this creates a legal corridor to bridge blockchain rails with traditional Venezuelan bank accounts, reducing transaction costs and friction for cross-border payments. 

Startup Venezuela Summit (Miami).

Este cambio regulatorio será el tema central del Startup Venezuela Summit en el EB Hotel Miami (20-21 de abril de 2026). 

* Speakers destacados: Alejandro Grisanti (Ecoanalítica), Vicente Zavarce (Yummy), y Pedro Vallenilla (Cashea). They will analyze how these new financial rails will accelerate the growth of their platforms.

We'll be in #Miami next week for Startup Venezuela Summit, speaking to Venezuelan businesses, investors, and the broader diaspora. More to follow!

By Boris Spiwak

#Venezuela #Stablecoins #CrossBorderPayments #Fintech #Remittances #OFAC #LatAm #Neobank