Coinbase co-founder Fred Ersham is weighing an investment in Venezuela, according to people familiar with the matter. He has held meetings with both US and Venezuelan officials in recent weeks, signaling a potential bet on a country with a history of crypto adoption but also deep political and economic turmoil. The news comes alongside two other Latin America-focused developments: Mexican conglomerate Grupo Salinas has partnered with Anchorage Digital, and Brazil has banned a bank from conducting foreign crypto trades.
Ersham's Venezuela play
Ersham's interest in Venezuela isn't just casual. The co-founder of one of the world's largest crypto exchanges has been in direct contact with officials from both governments. The talks appear to focus on investment opportunities — though what exactly he's looking to back isn't public yet. Venezuela has long been a testing ground for crypto, with citizens turning to Bitcoin amid hyperinflation and capital controls. But the country also faces US sanctions and a volatile regulatory environment. Ersham's team hasn't commented on the record.
Grupo Salinas picks Anchorage
Grupo Salinas, the sprawling Mexican business group that owns TV Azteca and Banco Azteca, has formed a partnership with Anchorage Digital, the federally chartered digital bank. The deal is another sign that traditional Latin American companies are moving beyond mere exploration of crypto services. Anchorage, which holds a US national trust charter, will provide custody and settlement infrastructure. Neither company disclosed financial terms.
Brazil's foreign-trade ban
Brazil's central bank has prohibited a specific bank from executing crypto transactions abroad. The regulator didn't name the bank in the public order, but the ban effectively blocks that institution from facilitating overseas crypto trades for its clients. The move tightens oversight in a market where foreign crypto exposure has been growing. Brazil has been gradually formalizing crypto rules, but this is one of the first direct prohibitions against a single bank's cross-border activity.
What happens next with Ersham's Venezuela plans is the open question. He's talked to officials on both sides, but no commitment has been announced. Meanwhile, Grupo Salinas and Anchorage are expected to roll out services later this year, and Brazil's central bank hasn't signaled whether more bans are coming.
