Bolivia lifted its ban on digital coins in June 2024 and saw trading volume hit $47 million in just three months. That breaks down to a little over $15 million per month—twice the pace of the previous year and a half.
Bolivia’s foreign currency reserves fell from almost $13 billion in 2014 to only $165 million by April 2025, based on data from Trading Economics.
That shortfall has made it hard to pay for imports in dollars. Now the state oil firm, Yacimientos Petrolíferos Fiscales Bolivianos, can accept crypto for fuel buys.
Local shops are pricing goods in Tether (USDT) to keep sales steady when the peso wobbles. People are looking to stablecoins as a way to shield themselves from wild swings.
According to analysts, El Salvador’s run at Bitcoin hit speed bumps like high fees and shops that refused to take sats. Bolivia’s leaders say they’ll study those missteps.
The MOU mentions sharing software and best practices—but concrete steps are still missing. Regulators stress that consumer protections and liquidity safeguards must come first.
General elections are set for August 17, with a runoff on October 19 if no one clears 50% or at least 40% plus a 10-point lead.
Candidates could either double down on digital finance or slam the brakes if things go wrong. Any change in leadership could reshape the deal’s future.
Bolivia and El Salvador plan to meet regularly to review progress on regulation, tech tools, and financial inclusion. They’ll also look at ways to help families and small businesses get bank-like services through crypto, reports disclose.
Featured image from Adobe Stock, chart from TradingView
