Saw a thing where in Argentina inflation of the peso is so bad that people prefer to use dollars.
But you can only exchange for $200 a month officially so there is a black market exchange at 2x the official rate. Even the banks are in on it.
Maybe a dumb question, but why don’t they just use crypto. It is way more stable than the peso and you don’t have to hide dollars in your mattress.
Sticking to fiat even when it is a complete disaster for ordinary people.