Bolivia is assessing whether to integrate Tether's USDT stablecoin into its payments infrastructure amid a persistent dollar shortage. Economy Minister José Gabriel Espinoza announced the review during a Monday press conference.
Espinoza stated that officials are examining if USDT could circulate alongside the boliviano and the U.S. dollar. The proposal remains in technical review with no implementation rules issued and no legal-tender status granted yet.
A framework is being developed for banks, digital wallets and payment providers. Any adoption would require enhanced anti-money laundering controls, as Bolivia stays on the Financial Action Task Force grey list.
Crypto transaction volumes in the country rose sharply after the central bank lifted restrictions in June 2024. Volumes reached $430 million over the following year, up 630 percent from prior levels.
State-controlled Banco Unión and its Yasta wallet began allowing USDT purchases in April for international payments and remittances.
