Three global automakers—Toyota, Yamaha, and BYD—are now accepting Tether (USDT) payments in Bolivia as the country struggles with severe U.S. dollar shortages. Tether CEO Paolo Ardoino confirmed the move on Sunday, highlighting BitGo’s role in providing secure self-custody solutions. A Toyota car purchase using USDT was confirmed over the weekend, and dealerships are already promoting stablecoin payments as “easy, fast, and safe.”
Bolivia was one of Latin America’s last crypto holdouts until June 2024, when it lifted its longstanding ban on cryptocurrencies and allowed banks to process Bitcoin and stablecoin transactions. Since then, adoption has picked up rapidly, with state-owned YPFB already accepting crypto for fuel imports earlier this year.
The trend reflects deep concerns about dwindling reserves. Bolivia’s foreign exchange stock has fallen 98% from $12.7 billion in 2014 to just $171 million in August 2025. While the boliviano remains the main currency, stablecoins are emerging as a reliable store of value.
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