Bolivia | Crypto

South American nation Bolivia is considering the use of the largest dollar-backed stablecoin, USDT, per a local report.

As foreign currency reserves remain under pressure, Bolivia is considering a framework to let the world’s largest stablecoin be used for payments, savings and trade. Bolivia is evaluating integrating Tether's USDt into its national payments system, a move that could mark one of Latin America's most significant stablecoin adoption initiatives as the country grapples with a persistent shortage of US dollars. Economy and Public Finance Minister Jose Gabriel Espinoza told a press conference on Monday that the government is assessing a regulatory framework that would allow USDT to circulate “as just another currency,” alongside the boliviano and the US dollar.  According to the Spanish news outlet CriptoNoticias, the framework is still under review and, if adopted, would recognize USDT for everyday transactions, including payments, savings and trade, without relying exclusively on cash or the traditional banking system. Read more

Fiat currency inflation, US dollar shortages, and global competition are prompting the government to integrate cryptocurrencies. The government of Bolivia will integrate cryptocurrencies and stablecoins into the financial system in a push to modernize the country’s economy, Bolivia’s economic minister, Jose Gabriel Espinoza, announced on Tuesday. Banks will be allowed to custody crypto on behalf of clients, enabling digital currencies to function as a legal tender for savings accounts, credit products, and loans, according to Reuters. “You can’t control crypto globally, so you have to recognize it and use it to your advantage,” Espinoza said. Read more

Tether is now being accepted for payments at Toyota, Yamaha and BYD in Bolivia as businesses increasingly turn to stablecoins to navigate the country’s US dollar shortage. Three major international vehicle manufacturers have started accepting a Tether in Bolivia to navigate its collapsing US dollar reserves, marking a major step in the Latin American country’s crypto adoption. Tether CEO Paolo Ardoino shared that Toyota, Yamaha, and BYD are taking Tether (USDT) for payment on Sunday, while crypto security firm BitGo confirmed the first Toyota was purchased in Bolivia with USDT on Saturday. Pictures shared by Ardoino show a dealership displaying signs that advertise USDT as an “easy, fast, and safe” payment option for car purchases.  Read more

Toyota, BYD, and Yamaha have started accepting USDT payments in Bolivia according to Tether CEO Paolo Ardoino, as the country's Central Bank recorded $294 million in crypto payment transactions during the first six months of 2025, representing a 630% surge from $46.5 million in 2024 following Bolivia's June removal of crypto ban and regulatory framework establishment. The post Toyota, BYD, and Yamaha Now Accept USDT Payments in Bolivia, Tether CEO Confirms appeared first on Cryptonews.

The Bolivian central bank reported on June 27 that domestic crypto transactions totaled $430 million in the 12 months since regulators reopened formal payment rails, a 630% jump over the previous year.  The Banco Central de Bolivia (BCB) reported that users processed 10,193 operations worth BOB 611 million as of May 31, 2025, approximately $88 […] The post Crypto payments soar 630% in Bolivia, central bank reports $430M since lifting ban appeared first on CryptoSlate.