365Crypto
Three global auto giants — Toyota, Yamaha, and BYD — now accept Tether (USDT) in Bolivia. The move comes as the country battles a severe shortage of U.S. dollars.
Tether CEO Paolo Ardoino confirmed the news after a Toyota dealership in Bolivia sold its first car for USDT last weekend. Signs at the showroom promoted stablecoin payments as “easy, fast, and safe.” Crypto security firm BitGo helped the rollout with custody and transaction support.
From Ban to Boom
Bolivia was long one of the toughest anti-crypto nations. That changed in June 2024 when the government scrapped its ban and allowed banks to process Bitcoin and stablecoin transactions.
The nation’s central bank data reveals why: foreign reserves crashed from $12.7 billion in 2014 to just $171 million in August 2025. That collapse has fueled demand for digital alternatives like USDT.
Stablecoins in Everyday Trade
Bolivian shops at airports now list goods in USDT. Importers also buy stablecoins locally or offshore, convert them to dollars, and pay overseas suppliers. Some products are even priced in USDT, creating a mini stablecoin economy.
Politics and Crypto’s Role
On Oct. 19, Bolivia heads to the polls. Candidate Rodrigo Paz Pereira has proposed blockchain solutions to curb corruption, while rival Jorge “Tuto” Quiroga has yet to reveal a crypto plan. Whoever wins inherits an economy leaning on stablecoins to survive.
