Bolivia is considering whether to include Tether’s USDT stablecoin in its national payments system, according to local reporting cited by multiple outlets. The proposal comes amid growing crypto activity in the country. One report says transaction volumes rise to about $430 million in the year following the Bolivian central bank’s move in mid-2024 to remove certain restrictions affecting crypto-related transactions. The consideration focuses on adding USDT, a dollar-backed stablecoin, to formal payment rails, potentially expanding options for residents and businesses that already use crypto in commerce. The available coverage does not detail a final decision, timeline, or the specific regulatory or technical framework Bolivia would adopt. Instead, it frames the development as an evaluation of integrating USDT into the national payments system in response to increased usage and volumes since the regulatory change. Further information is expected on any approvals, implementation steps, and oversight measures if the plan advances.
Bolivia weighs adding Tether’s USDT to national payments system
Bolivia is considering whether to include Tether’s USDT stablecoin in its national payments system, according to local reporting cited by multiple outlets. The proposal comes amid growing crypto activ...
- Bolivia is considering adding Tether’s USDT to its national payments system.
- The discussion is reported to be linked to increased crypto usage in the country.
- One cited figure says crypto transaction volume reaches about $430 million in the year after mid-2024 rule changes.
- The Bolivian central bank removed certain restrictions in mid-2024, contributing to higher activity.
- No final decision or implementation timeline is reported in the available coverage.
South American nation Bolivia is considering the use of the largest dollar-backed stablecoin, USDT, per a local report.
4 hours agoCrypto usage has spiked in the country, with transaction volumes hitting $430 million in the year after the central bank removed restrictions in mid-2024.
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