Bolivians Rely on USDT to Safeguard Assets Amid Sharp Decline of the Boliviano’s Value

Bolivia is undergoing a major transformation in its economy as internationally recognized brands such as

, Yamaha, and BYD have started to accept Tether’s stablecoin for payment. This signals a crucial turning point in Bolivia’s embrace of digital assets, propelled by a severe lack of US dollars and the weakening value of the Boliviano. CEO Paolo Ardoino revealed the launch, emphasizing that USDT can now be used to buy cars at dealerships, and BitGo reported the completion of the first such sale in late September. This step highlights the increasing reliance on stablecoins as a solution to Bolivia’s currency challenges, with the nation’s foreign reserves having plunged 98% since 2014, reaching only $171 million by August 2025.

The Bolivian government’s move to end its ban on cryptocurrencies in June 2024 has sped up this transformation. The state-run oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) was among the pioneers in using crypto for importing fuel to cope with dollar shortages. In addition, Bolivia’s Central Bank noted a 630% increase in crypto-related transactions, reaching $294 million in the first half of 2025, compared to $46.5 million in 2024. This rapid rise was aided by Banco Bisa, a prominent Bolivian bank, introducing USDT custody services in October 2024, allowing for secure trading and international transfers. Financial supervisor Yvette Espinoza commented that these efforts support the goal of bringing crypto under regulatory oversight.

Retailers and other companies are also turning to USDT to keep their businesses stable. Duty Fly, a branch of Bolivia’s top cosmetics distributor, now lists products in USDT at airports, with exchange rates based on the Banco Central de Bolivia. BitGo’s partnership with Tether and Bolivia Toyota has enabled easy USDT transactions, and Gabriel Campa from TowerBank noted that businesses are exchanging stablecoins for US dollars to facilitate overseas trade. This growing stablecoin economy is proving vital for keeping business flowing despite liquidity issues.

The financial logic behind the use of USDT is clear. The Boliviano has dropped by almost half its value against the US dollar in 2025, and inflation has soared to levels not seen in four decades. Consequently, many Bolivians are turning to stablecoins as a way to maintain their purchasing power. By May 2025, there were more than 10,000 official crypto transactions, amounting to 611 million Bolivianos ($88 million), largely driven by individuals and small enterprises. Peer-to-peer activity, not tracked by authorities, suggests true adoption rates may be much higher.

Bolivia’s changes are in step with a larger movement across Latin America. Countries such as Argentina and Mexico, facing rapid inflation and weakening currencies, have seen stablecoins like

and USDT become crucial tools for safeguarding assets. According to Chainalysis, crypto adoption across Latin America rose to 63% in 2025, with $415 billion in digital assets transacted from 2023 to 2024. Bolivia has become one of the region’s leading adopters, with lawmakers like Mariela Baldivieso pushing for deeper crypto integration to enhance economic stability.

As Bolivia heads toward a presidential runoff in October 2025, the debate over crypto’s place in the national economy is intensifying. Rodrigo Paz Pereira has suggested using blockchain to promote transparency, but the next administration will need to find a balance between fostering innovation and ensuring regulatory control. For now, the use of USDT in everyday transactions—from buying vehicles to retail purchases—shows a practical response to ongoing economic uncertainty and signals a broader change in the way Bolivians handle their finances.