Bolivia has announced a major shift in its financial policy. The government will begin integrating cryptocurrencies and stablecoins into the national financial system to modernize the economy and ease the impact of high inflation and a persistent shortage of U.S. dollars.

Economy Minister José Gabriel Espinoza said that cryptocurrencies cannot be controlled globally, making it more rational to recognize them and put them to use for the country. Banks will be allowed to manage digital assets on behalf of clients, enabling their use in savings products, loans, and everyday credit.

Rising inflation pushes Bolivians toward stablecoins

The decision was driven primarily by inflation of the national currency, which exceeded 22 percent in the 12 months leading to October. Residents and businesses increasingly rely on stablecoins, especially USDT, because they maintain their value and are not tied to the depreciating local currency. Some companies have already begun listing prices directly in Tether.

A shortage of dollars — essential for international trade and central bank stability — has further escalated the issue.

Toyota, Yamaha, and BYD accept USDT as payment

Stablecoins are gaining ground in the business sector as well. This September, automakers Toyota, Yamaha, and BYD began accepting USDT as payment for their vehicles. Corporate interest in digital currencies reflects severe dollar shortages and restrictions that complicate international commerce.

State-owned energy company YPFB is also preparing a system for paying for energy imports in crypto, though the specific tokens have not yet been determined.

Latin America becomes a laboratory for digital economics

Strict capital controls have long shaped Bolivia’s financial landscape. Stablecoins offer a way to hold dollar-denominated value without a bank account, effectively bypassing local restrictions. A mobile phone and a digital wallet are often more accessible than traditional banking services.

With this move, Bolivia joins a growing number of Latin American nations embracing crypto as a practical tool for everyday economic activity. Analysts describe it as a national version of FOMO — the fear that excessive caution could leave a country behind others adapting digital technologies more quickly.

Across a region grappling with inflation and unstable currencies, stablecoins are emerging as a new financial backbone.

Sources:

https://www.reuters.com/world/americas/bolivia-negotiating-9-billion-multilateral-loans-spur-recovery-2025-11-25/

https://cointelegraph.com/news/latin-america-crypto-stablecoins-financial-access

https://x.com/pete_rizzo_/status/1927824501531709493

https://www.ine.gob.bo/index.php/graficos-ipc/