Bolivia State Energy Company YBFB will use cryptocurrency to pay for energy imports, according to one Reuters Report.
The YBFB hopes that the use of crypto will be a direct solution to the country’s lack of US dollar and foreign currency reserves.
The deficiency comes next to a gasoline crisis that is raised by the lack of natural gas exports, which led to scattered protests nationwide, the report said.
“From now on, these transactions (cryptocurrency) will be performed,” a YPFB spokesperson told Reuters.
This is not the first time a firm owned by the South American state moved to crypto; In 2023 Agentina’s YPF announced This has switched to crypto mining, and last PDVSA of Venezuela revealed that it used cryptocurrencies to fight the oil penalties imposed on us.
