Bolivia is considering granting the stablecoin USDT an official role in its national payment system as the country grapples with a severe shortage of U.S. dollars. Economy Minister Jose Gabriel Espinoza confirmed on July 10 that the government is technically evaluating a proposal that would allow USDT to circulate alongside the U.S. dollar and the Bolivian boliviano.
Speaking to reporters, Espinoza stated: "We are technically evaluating the possibility of including USDT in the Bolivian payment system so that it circulates as just another currency, like the dollar or the boliviano." If approved, businesses and individuals could legally use the world's largest stablecoin for everyday payments, making Bolivia one of the first countries to formally integrate a stablecoin into its national payment infrastructure.
Why Does Bolivia Need USDT Now?
The proposal comes as Bolivia continues to face a severe foreign currency crunch. Since 2024, many businesses have struggled to obtain U.S. dollars needed to pay overseas suppliers. As dollar availability declined, merchants and importers increasingly turned to USDT, which maintains a value close to $1, as an alternative for international transactions. Unlike Bitcoin, whose price can fluctuate sharply within hours, USDT offers stable value, making it more practical for trade, remittances, and protecting savings during economic uncertainty. The growing demand has already pushed major banks such as Banco Unión and Banco FIE to launch USDT-related services for customers.
How Will This Benefit Ordinary Bolivians?
If the government moves forward, using USDT could become much easier for Bolivians. Instead of waiting for physical U.S. dollars, businesses could pay foreign suppliers digitally using USDT. Freelancers could receive international payments faster, while families sending remittances may also benefit from lower transfer costs. Before USDT can officially become part of Bolivia's payment system, the government must introduce clear crypto regulations. Since Bolivia remains on the FATF grey list, authorities need stronger anti-money laundering rules before allowing wider stablecoin use. The new framework aims to make USDT safer and easier to use while meeting global financial standards.
Why Is Bolivia Choosing USDT Instead of Bitcoin?
Many in the crypto industry have questioned why Bolivia selected USDT over Bitcoin. The answer lies in stability. USDT is designed to maintain a value of around $1, whereas Bitcoin's price can rise or fall by several percent in a single day, making it risky for salaries, imports, and daily payments. For businesses paying overseas suppliers or families sending money abroad, a stablecoin offers far greater price certainty. Consequently, the government is studying USDT as a payment currency rather than Bitcoin.