Bolivia may soon become one of the first countries in the world where global automakers officially accept stablecoins for vehicle purchases, as local dealerships prepare to embrace Tether’s USDT.
Automakers move toward stablecoin payments
According to a September 2025 announcement from Toyosa, Bolivia’s exclusive distributor for Toyota, Lexus, Yamaha, and BYD, vehicle and motorcycle dealerships will begin accepting Tether’s USDT as a payment option. The rollout is designed to offer customers an alternative to scarce U.S. dollar cash and the volatile local boliviano.
Transactions will be completed using a QR code system. Toyosa has partnered with BitGo for secure custodial services and Towerbank (Panama) for payment processing, giving the effort institutional backing.
History was made tonight: the first Toyota was purchased in Bolivia with $USDT. 🛻@ToyosaBolivia, and @Tether_to has partnered with BitGo to make stablecoin payments possible, delivering safe custody, stable transactions, and seamless experiences.
— BitGo (@BitGo) September 20, 2025
Stablecoins are powering a… pic.twitter.com/eFpfCMZTDg
Edwin Saavedra, a spokesperson for Toyosa, stated in a press release that the company seeks to “simplify the shopping experience for clients while opening the door to new forms of financial technology and payment.”
Tether’s CEO frames USDT as “Digital dollars”
Following the announcement, Tether CEO Paolo Ardoino shared photos of dealerships in Bolivia displaying billboards reading: “Tu vehículo en dólares digitales” (“Your vehicle in digital dollars”) with the promise of payments being “fácil, rápido y seguro” (easy, fast, and secure).
In a post on X, Ardoino wrote:
“USDT is the digital dollar for hundreds of millions in the emerging markets. Ubiquity.”
Economic Context: Dollar crisis pushes alternatives
Bolivia is grappling with one of the deepest currency crises in Latin America.
- The country’s foreign reserves dropped from $12.7 billion in 2014 to $171 million in August 2025, a 98% decline, according to Trading Economics data.
- Businesses and individuals face severe difficulties accessing U.S. dollars, driving interest in stablecoins such as USDT.
- In March 2025, according to Reuters, Bolivia’s state-owned oil and gas company YPFB reportedly received approval to accept cryptocurrencies for some import payments, creating a precedent for real-sector adoption.
Gabriel Campa, head of digital assets at Towerbank, has described the trend as the rise of a “stablecoin circular economy.” Importers often buy USDT through local channels, convert it to USD abroad, and pay suppliers. Increasingly, some goods inside Bolivia are being priced directly in USDT.
Rapid policy shift after crypto ban lifted
Bolivia had banned cryptocurrencies for over a decade, but in June 2024 the country reversed course and authorized banks to process Bitcoin (BTC) and stablecoin transactions. Since then, adoption has accelerated in both retail and institutional contexts.
The move by Toyosa dealerships to prepare for USDT integration represents one of the first major implementations of stablecoin payments in the automotive sector anywhere in Latin America.
Political outlook: October 2025 election
Bolivia’s upcoming October 19, 2025 presidential run-off election may determine how quickly such adoption expands.
- Candidate Rodrigo Paz Pereira has pledged to promote blockchain-based transparency reforms, according to Reuters.
- Rival Jorge “Tuto” Quiroga has not issued a comprehensive crypto policy.
The next administration’s stance on regulation could accelerate or moderate the country’s stablecoin adoption trajectory.
Global implications
The inclusion of USDT payments in Bolivia’s auto sector underscores how currency shortages can accelerate alternative payment adoption. For Tether, it could demonstrate the ability of stablecoins to move beyond speculative use cases and into large consumer transactions like vehicles.
If Bolivia’s rollout proves successful, similar integrations may emerge across other emerging markets struggling with currency volatility or dollar access.
Matvii Diadkov
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