TLDR Bolivia is reviewing whether USDT can join its national payments system. USDT could circulate alongside the boliviano and the U.S. dollar. The government has not granted USDT legal-tende
Bolivia is weighing whether to add Tether’s USDT stablecoin to its national payments system. The proposal could allow USDT to circulate alongside the boliviano and the United States dollar. However, Bolivia has not approved implementation rules or granted the token legal-tender status.
Economy Minister José Gabriel Espinoza confirmed that officials are conducting a technical assessment of the proposal. Bolivia is also preparing rules for banks, digital wallets, and payment service providers. The framework would define how regulated institutions could support stablecoin payments.
Bolivia has not announced a launch date or detailed operating requirements. Officials must also determine how USDT transactions would interact with existing currency and banking regulations. These reviews will shape whether the stablecoin enters the formal payments network.
Any approval would require stronger financial crime controls across participating institutions. Bolivia remains on the Financial Action Task Force’s grey list because of weaknesses in its financial safeguards. Banks and payment companies would therefore need tighter monitoring and reporting systems.
The central bank removed restrictions on cryptocurrency transactions in June 2024. Since then, Bolivia has recorded a sharp increase in digital asset activity. Transaction volume reached $294 million during the first half of last year.
The comparable figure stood at $46.5 million during the first half of 2024. The central bank said total transaction volume increased 630% after authorities removed the restrictions. This growth shows rising use of digital assets within the country’s financial system.
Demand has grown as companies and consumers seek alternatives to limited dollar supplies. Bolivia also ended its fixed dollar peg and adopted a floating exchange rate earlier this year. Those changes have increased interest in dollar-linked payment options.
State-controlled Banco Unión expanded access to USDT through its Yasta digital wallet in April. Customers can buy the stablecoin through EFY Finance for remittances and international payments. The service gave Bolivia an early regulated channel for stablecoin purchases.
State energy company YPFB also announced plans to use cryptocurrency for energy imports last year. The central bank has sought guidance from El Salvador while developing its digital asset framework. These steps show broader government interest in controlled cryptocurrency use. The latest proposal would place USDT within a wider national payment structure. Bolivia must still complete technical reviews and publish formal rules before any rollout begins.
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