Bolivia embraces USDT as shoppers ditch cash
Tether’s CEO Paolo Ardoino has praised Bolivia’s rapid rise in USDT (Tether) usage, stating that the country is increasingly turning to digital dollars for regular trade.
In a tweet, Ardoino shared images of shops in the country showing prices in USDT, suggesting that these could open the gates for stablecoins in the retail market.
In Bolivia, real prices in shops are displayed in USD₮.
A quietly revolutionary shift: digital dollars are powering daily life, commerce, and economic stability. pic.twitter.com/dGP7I2ipxv
— Paolo Ardoino 🤖 (@paoloardoino) June 7, 2025
Photos from these stores show items such as Cadbury Dairy Milk and Oreo products printed with the USDT price, not the more traditional Bolivian Boliviano.
Ardoino emphasized that the stablecoin is now a part of people’s daily lives in the state. He noted that when digital currency is used for commerce, the relevance to the digital age is modernizing transactions, and the contextual relevance is mastering economic instability.
Ardoino’s images also include popular products, including sunglasses and Milka chocolate, tagged with prices in USDT.
Bolivia embraces USDT as shoppers ditch cash
According to the Central Bank of Bolivia, some goods are now exclusively sold with prices set in USDT. That illustrates Bolivians’ increasing trust in digital money and the greater cryptocurrency market, including the Ethereum price.
Price tags are now confusingly appearing in USDT, as the Boliviano increasingly becomes a thing of the past in regular point-of-sale transactions. This is happening as the country is also facing a myriad of economic struggles, and digital currencies have become a more stable source of value than the Nation’s fiat currency.
Using Tether’s stablecoin allows customers to pay via digital wallets instead of cash, marking a new era where technology increasingly shapes payment methods.
For experts, this is a major milestone. Hence, they think that the country could inspire other states to do the same. Digital payments might attract more organizations to start using them. This is especially true as platforms like Coinbase slash account freezes by 82%, signaling broader accessibility.
However, this shift also highlights the requirement for coherent government policies to manage the digital currency industry. Meanwhile, many Bolivians are already accustomed to buying everyday goods in USDT.
The Central Bank’s proposal to allow residents to exchange Bolivianos for Tether’s stablecoin could further simplify transactions and reduce exchange rate uncertainties.
Bolivia reverses crypto ban as stablecoin adoption surges
Mid last year, Bolivia’s central bank, Banco Central de Bolivia, lifted its ban on Bitcoin and crypto payments, allowing financial institutions to transact with digital assets. The ban has been in place since 2014.
In September 2024, the country reported a 100% rise in virtual asset trading, with roughly $15.6 million worth of assets traded every month between July and September. The $48.6 million traded was largely made up of stablecoins. Stablecoins are often used in developing countries whose local currency has experienced a high degree of devaluation or where there’s a shortage of foreign currency.
Stablecoin use gained further momentum in Bolivia in October 2024 when local bank Banco Bisa introduced a stablecoin custody service. That service, which the country’s financial regulator supported, allows the nation’s residents to buy, sell, and trade Tether’s USDT, a US dollar-pegged stablecoin.
Reports from September 2016 show that the state had much to gain from adopting cryptocurrencies. At that time, much of that country’s citizens were unbanked, with just 11% of residents using a debit card to make payments and only 5% using credit cards. However, the country continued upholding its ban until 2024, calling crypto a pyramid scheme in May 2017 and arresting crypto advocates.
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Original reporting: cryptopolitan.com
