Catenaa, Wednesday, September 24, 2025- Major automakers Toyota, BYD, and Yamaha, have started accepting payments in Tether’s USDT stablecoin in Bolivia, Tether CEO Paolo Ardoino confirmed early this week.
The move marks a significant milestone for cryptocurrency adoption in Latin America, especially in emerging markets.
Ardoino highlighted USDT as the “digital dollar” serving hundreds of millions of people, particularly in regions with unstable currencies.
Bolivia’s Central Bank reported crypto payment transactions of $294 million in the first half of 2025, a 630% increase from $46.5 million in 2024, reflecting rapid growth in digital asset usage.
The adoption follows Bolivia’s decision to lift its crypto ban in June 2025, granting official status to virtual assets and allowing financial institutions to channel transactions through licensed crypto exchanges.
Regulatory authorities like the ASFI have emphasized that this framework facilitates secure, regulated crypto transactions.
Bolivia’s public sector began accepting cryptocurrency in March 2025 when YPFB was authorized to conduct crude oil import transactions using USD or digital currencies. Banco Bisa launched custodial services for USDT in October 2024, while the Central Bank signed a memorandum with El Salvador to advance crypto development.
Across Latin America, economic instability and currency weakness have driven stablecoin adoption. Countries including Argentina, Brazil, Mexico, and Colombia have increasingly relied on USDT and USDC to protect wealth and facilitate international transfers.
Chainalysis data shows regional crypto adoption rising from 53% in 2024 to 63% in 2025. Bolivian legislators say expanding crypto integration could strengthen the nation’s economy, positioning Bolivia among the top five adopters in Latin America.
