Cuba Turns to Crypto Under Sanctions, P2P Networks Emerge

Cuba does not host large volumes of Bitcoin transactions, yet the country is emerging as a prominent example of cryptocurrency use under heavy sanctions and restricted access to global payment systems. As traditional banking channels remain largely cut off, a growing portion of transactions is migrating to peer-to-peer networks and messaging apps, laying the groundwork for a post-bank economy.

According to an analysis by ForkLog, the island nation—home to over 10 million people—is gradually adapting to financial isolation. Authorities have begun legalizing cryptocurrencies for foreign trade, signaling a policy shift toward embracing digital assets as a workaround for international payments.