Three major international vehicle manufacturers began to receive a tether in Bolivia to navigate the collapsed US dollar reserves, which marked a major step in adopting Latin American crypto.
Tether CEO Paolo Ardoino shared Toyota, Yamaha, and Byd take tether (USDT) for payment on Sunday, while the crypto security firm BitGo confirmed The first Toyota was purchased in Bolivia with the USDT on Saturday.
Photos shared by Ardoino show a dealership showing signs that advertise the USDT as a “easy, fast, and safe” payment option for car purchases.
Bitgo said it cooperated with Tether and Bolivia Toyota to assist it with self-custody while ensuring transactions are fixed
Bolivia was one of Latin America’s last crypto n bholdout until June 2024, when it raised Long -term Crypto prohibition and allowed banks to process Bitcoin (Btc) and Stablecoin transactions.
One of the first major adoption stories arrived in March when the Bolivian state owned by oil and gas firm Yacimientos Petrolíferos Fiscales Bolivianos received government approval at Start receiving crypto For fuel imports as a solution to deepening US dollar deficiencies.
Bolivia’s foreign exchange reserves have fell A fatigue of 98% from $ 12.7 billion in July 2014 to $ 171 million this August, trade economy data shows. Bolivian Boliviano remains most widely used currency in Bolivia; However, the fear of losing power of purchase has pushed many locals to prefer more stable alternatives such as US dollars Or, in some cases, crypto.
Bolivia’s leading bank Although called crypto is a “viable and reliable alternative” to fiat currencies while signing a memorandum with El Salvador to accelerate crypto adoption in late July.
Meanwhile, Bolivian stores to the airports has been Pricing major items in USDT as a way to navigate the money crisis.
Bolivian businesses rely on stablecoins for international trade
Bolivian businesses that import products also use USDT to work around US dollar deficiencies, head of Towerbank’s digital assets, Gabriel Campa, said Bitfinex on Tuesday.
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They buy stablecoins locally or by Bank accounts outside the country, Convert them to the US dollar, and pay suppliers abroad. Some of these products are listed in the USDT, which enables an economy of Stablecoin to keep trade and operations running, he said.
The Bolivia crypto market has grown, USDT’s day -to -day liquidity has grown from $ 20k to nearly $ 1m under one year.@Camp86 Explains why @towerbankintl is committed to this growth and helping to re -establish trade connections. pic.twitter.com/sepwo8ef8p
– Bitfinex (@bitfinex) September 19, 2025
Bolivia’s future will decide in October
Bolivia will create a run-off vote between the Christian Democratic Party of Rodrigo Paz Pereira and Jorge “Tuto” Quiroga’s Freedom and Democracy Alliance on October 19.
To deal with corruption, Paz Pereira has suggested The implementation of blockchain technology for greater transparency, while Quiroga’s stance in crypto is less clear.
The winning party will lead to Bolivia after nearly two decades under the movement for socialism, which has brought most of the blame for the current economic crisis of the country.
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