TLDR
- Tether’s CEO Paolo Ardoino announced that Toyota, BYD, and Yamaha are now accepting USDT in Bolivia.
- Bolivia has seen a 630% increase in cryptocurrency transactions in the first half of 2025.
- The total value of cryptocurrency transactions in Bolivia reached $294 million during this period.
- Banco Bisa launched custodial services for USDT in October 2024, supporting the country’s digital currency adoption.
- Stablecoins like USDT and USDC account for over 90% of all exchange activity in Latin America.
Tether’s CEO, Paolo Ardoino, announced that major auto brands Toyota, BYD, and Yamaha are now accepting USDT in Bolivia. This marks a significant step in the country’s growing adoption of digital currencies. Bolivians can now use the stablecoin for high-value transactions, such as purchasing vehicles.
Increased Cryptocurrency Adoption in Bolivia
Bolivia has witnessed a surge in cryptocurrency activity. The Central Bank of Bolivia reported a 630% increase in transactions in the first half of 2025. The total value of crypto transactions reached $294 million during this period.
Tether’s integration into the Bolivian economy is part of this trend. The country’s digital currency adoption is skyrocketing. The use of USDT for car purchases provides consumers with an alternative to traditional payment methods.
USDT Custodial Services and the Rise of Stablecoins
Banco Bisa launched custodial services for USDT in October 2024. This move reflects Bolivia’s commitment to integrating digital currencies into its financial system. Tether’s stablecoin is becoming a reliable option for transactions in the country.
Stablecoins, particularly USDT, have gained significant popularity in Latin America. As citizens seek protection from currency volatility, they are turning to digital assets. Data from Dune Analytics shows USDT and USDC account for over 90% of all exchange activity in the region.
Tether’s move into Bolivia reflects a broader shift in Latin America. As the economy faces challenges, digital currencies provide stability. Bolivia’s growing acceptance of USDT represents a crucial step toward financial modernization.
The post Bolivia’s Auto Industry Embraces USDT Payments, Tether CEO Reports appeared first on Blockonomi.
Source: https://blockonomi.com/bolivias-auto-industry-embraces-usdt-payments-tether-ceo-reports/
