Yemenis are turning to DeFi as US sanctions target Houthi group

TRM Labs: DeFi Gains Traction In Yemen As Traditional Banking Faces Sanctions Pressure

According to TRM Labs, 18% of crypto web traffic from Yemen are on global centralized exchanges. DeFi adoption in Yemen surges to over 63% of crypto web traffic as residents seek alternatives to sanctioned traditional banking channels. Sanctions and financial restrictions, particularly after the U.S. reclassified the Houthis as terrorists, have triggered a rise in peer-to-peer and DeFi crypto use. After the US considered the Houthi group a ter…

Yemen’s crypto exodus: DeFi usage soars 63% as U.S. sanctions cripple Houthi banking

The post Yemen’s crypto exodus: DeFi usage soars 63% as U.S. sanctions cripple Houthi banking appeared on BitcoinEthereumNews.com. Houthi jumped to DeFi amid U.S. sanctions against Yemen and Iranian backers.  DeFi usage in Yemen spiked to 63%, a trend TRM Labs projected would expand.  The U.S. has sanctioned Yemen-based International Bank of Yemen (IBY) for allegedly facilitating the Houthi group. This has forced Yemeni locals, including Houthis…

Yemen Embraces Decentralized Finance

Yemeni people are turning to decentralized finance (DeFi) more and more as a way of financial survival and empowerment in the face of growing U.S. sanctions aimed at the Houthi organization. DeFi has become a lifeline for limited access to global financial systems since it gives unbanked Yemenis the opportunity to keep, move, and grow their money outside of government and geopolitical control. Sanctions and Their Extended Impact Targeting financ…

Yemenis Embrace DeFi as U.S. Sanctions Cripple Traditional Banking

As Yemen’s war-torn economy worsens, citizens are adopting decentralized finance (DeFi) to bypass conventional banking restrictions. The shift comes after increasing U.S. sanctions on the Houthi movement, which Washington classifies as a terrorist group. With traditional financial systems failing, many Yemenis now rely on blockchain-based tools for daily transactions and remittances. DeFi Platforms Gain Ground as Banks Collapse Decentralized fin…

Yemenis turn to DeFi as US sanctions target Houthi group

• U.S. sanctions targeting the Houthi group and Yemen's fragile banking system push residents toward decentralized alternatives. • DeFi tools help users manage remittances and cross-border payments where local banks are unreliable or offline. The post Yemenis turn to DeFi as US sanctions target Houthi group appeared first on CryptoTvplus - The Leading Blockchain Media Firm.

Yemeni Citizens Turn to DeFi as US Sanctions Target Houthi Group

TLDR Yemeni citizens increasingly use DeFi protocols as sanctions against Houthis limit traditional banking DeFi accounts for 63% of Yemen’s crypto web traffic, while centralized exchanges account for 18% US has sanctioned cryptocurrency addresses linked to Houthis, with over $900 million in outflows identified Crypto adoption spiked after sanctions, with one Yemen-based exchange seeing a 270% volume increase Houthis have used crypto to procure…