Bolivia to Integrate Stablecoins into Financial System

Bolivia to integrate cryptocurrencies and stablecoins for modernization.

The Bolivian government plans to incorporate cryptocurrencies and stablecoins into the national financial system as part of its modernization efforts. This was announced by the country’s Minister of Economy, José Gabriel Espinoza, according to Reuters.

“Digital assets cannot be controlled globally, so they need to be recognized and used to our advantage,” the official noted.

According to the publication, local banks will be allowed to offer cryptocurrency custody services. They will be permitted for use as a means of payment, as well as for savings accounts, credit products, and loans.

Reasons for Legalization

The authorities’ decision is driven by a challenging economic situation. Inflation of the Boliviano has exceeded 22% year-on-year.

Due to the devaluation of fiat money, residents and businesses are increasingly turning to stablecoins, particularly USDT, to preserve capital.

Since September, car manufacturers, including Toyota, Yamaha, and BYD, have begun accepting Tether’s stablecoin in Bolivia.

Toyota, BYD, Yamaha accepting USDT in Bolivia

“Tu vehiculo en dolares digital”

USDT is the digital dollar for hundreds of millions in the emerging markets.
Ubiquity. pic.twitter.com/0X0SH3USXX

— Paolo Ardoino 🤖 (@paoloardoino) September 21, 2025

In March, the state energy company YPFB also announced a shift to cryptocurrency payments for energy imports.

Expert Opinion

Bitcoin analyst Lucien Bourdon from Trezor described the authorities’ actions as a “quiet repeal of the ban” in a comment to ForkLog.

“The government calls the integration of stablecoins ‘modernization.’ This illustrates a familiar scenario: officials initially ban new technologies, then legalize them when mass adoption renders blockades pointless,” the expert stated.

According to Bourdon, such reactive policies undermine trust in monetary management and demonstrate that open financial networks spread regardless of official approval.

Back in June, Reuters journalists reported that Bolivians were turning to digital assets amid a dollar shortage and high inflation.