Bolivia Considers Adding Tether's USDT to National Payments System
Bolivia is evaluating the integration of Tether's USDT stablecoin into its national payments system, according to CoinDesk. This step follows a significant rise in cryptocurrency transactions in the country after restrictions were lifted in mid-2024, with transactions reaching $430 million in volume.
Bolivia's government is considering incorporating Tether's USDT stablecoin into its national payments system. This potential move aims to establish USDT as a regulated alternative to the boliviano, Bolivia's national currency, and the U.S. dollar.
According to Economy Minister José Gabriel Espinoza, the proposal is currently undergoing technical review. The Ministry has not yet published any legal framework or granted legal-tender status to the stablecoin. However, officials are actively working on a scheme to involve banks, digital wallets, and payment processors.
Since the central bank removed cryptocurrency transaction restrictions in mid-2024, crypto usage has surged significantly, with transaction volumes hitting approximately $430 million. The volume rose dramatically from $46.5 million in the first half of 2024 to $294 million during the same period in 2025, representing a 630% increase after the restrictions were lifted.
Adoption comes amid a broader shift in Bolivia's currency policy, which has seen the country move from a fixed peg with the U.S. dollar to a floating exchange rate. This transition has compelled businesses and consumers to seek alternatives to the increasingly scarce U.S. dollar, further driving demand for cryptocurrencies.
Any official rollout of USDT will necessitate stringent anti-money laundering measures, especially since Bolivia remains under increased scrutiny from the Financial Action Task Force due to issues with its financial crime oversight. The government recognizes the need for robust controls as it contemplates embracing digital assets.
Additionally, domestic firms are expressing interest in utilizing cryptocurrencies. The state energy company YPFB announced plans to explore crypto for energy imports, while state-controlled Banco Unión began allowing customers to purchase USDT through its Yasta wallet via EFY Finance in April for international payments and remittances.
The local market's reaction to these developments, as well as the formulation of the regulatory framework, will be crucial for determining the future of crypto use in Bolivia.
Summary based on original reporting by Francisco Rodrigues at CoinDesk, originally published Jul 13, 2026. SolanaWire does not republish source content.
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