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Three major international vehicle manufacturers have started accepting a Tether in Bolivia to navigate its collapsing US dollar reserves, marking a major step in the Latin American country’s crypto adoption.
Tether CEO Paolo Ardoino <a data-ct-non-breakable="null" href="https://x.com/paoloardoino/status/1969647594084155637" rel="noopener nofollow" target="_blank" title="null">shared</a> that Toyota, Yamaha, and BYD are taking Tether (<a href="/tether-price-index">USDT</a>) for payment on Sunday, while crypto security firm BitGo <a data-ct-non-breakable="null" href="https://x.com/BitGo/status/1969240161516208599" rel="noopener nofollow" target="_blank" title="null">confirmed</a> the first Toyota was purchased in Bolivia with USDT on Saturday.
Pictures shared by Ardoino show a dealership displaying signs that advertise USDT as an “easy, fast, and safe” payment option for car purchases.&nbsp;
BitGo said it partnered with Tether and Bolivia Toyota to assist it with self-custody while ensuring the transactions run smoothly
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 <img src="https://s3.cointelegraph.com/uploads/2025-09/01996eea-7ce6-71e4-9743-65715e4669cb" title="" alt="Toyota, Yamaha, BYD accept Tether in Bolivia as USD reserves shrink">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/paoloardoino/status/1969647594084155637" rel="https://x.com/paoloardoino/status/1969647594084155637" target="https://x.com/paoloardoino/status/1969647594084155637" title="https://x.com/paoloardoino/status/1969647594084155637">Paolo Ardoino</a>
 
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Bolivia was one of Latin America’s last crypto holdouts until June 2024, when it lifted its long-standing crypto ban and allowed banks to process Bitcoin (BTC) and stablecoin transactions.&nbsp;
One of the first big adoption stories came in March when Bolivian state-owned oil and gas firm Yacimientos Petrolíferos Fiscales Bolivianos received government approval to<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bolivia-to-use-crypto-to-pay-for-energy-imports" title="null"> start accepting crypto</a> for fuel imports as a solution to the country’s deepening US dollar shortages.
Bolivia’s foreign exchange reserves have <a data-ct-non-breakable="null" href="https://tradingeconomics.com/bolivia/foreign-exchange-reserves" rel="noopener nofollow" target="_blank" title="null">fallen</a> a staggering 98% from $12.7 billion in July 2014 to $171 million this August, Trading Economics data shows. The Bolivian boliviano remains the most widely used currency in Bolivia; however, fears over it losing purchasing power have pushed many locals to prefer more stable alternatives like the<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/twenty-one-capital-bitcoin-loans-tether-btc-treasury" title="null"> US dollar</a> or, in some cases, crypto. <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bolivia-calls-crypto-reliable-alternative-to-fiat-in-el-salvador-partnership" title="null">Bolivia’s top bank</a> even called crypto a “viable and reliable alternative” to fiat currencies while signing a memorandum with El Salvador to accelerate crypto adoption in late July. 
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-09/01996eea-8fd5-79e3-8c54-ec6d9101150e" title="" alt="Toyota, Yamaha, BYD accept Tether in Bolivia as USD reserves shrink">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/BitGo/status/1969240161516208599" rel="https://x.com/BitGo/status/1969240161516208599" target="https://x.com/BitGo/status/1969240161516208599" title="https://x.com/BitGo/status/1969240161516208599">BitGo</a>
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 Meanwhile, Bolivian <a data-ct-non-breakable="null" href="https://x.com/just_norm/status/1966165283833323575" rel="noopener nofollow" target="_blank" title="null">shops</a> at airports have been<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tether-usdt-prices-goods-bolivia" title="null"> pricing basic items</a> in USDT as a way to navigate the currency crisis.
<h2 id="bolivian-businesses-relying-on-stablecoins-for-international-trade">Bolivian businesses relying on stablecoins for international trade</h2>
Bolivian businesses that import products have also been using USDT to work around US dollar shortages, TowerBank’s head of digital assets, Gabriel Campa, <a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=PN8WctPQ4PI" rel="noopener nofollow" target="_blank" title="null">told</a> Bitfinex last Tuesday.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/low-risk-defi-could-drive-ethereum-fees-while-keeping-values-intact" title="null">Low-risk DeFi could do for Ethereum what search did for Google, Vitalik says</a>
They buy stablecoins locally or via <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/traditional-bank-account-vs-bitcoin-custodial-storage" title="null">offshore bank accounts,</a> convert them to US dollars, and pay overseas suppliers. Some of these products are then listed in USDT, enabling a stablecoin circular economy to keep trade and operations running, he said.
<blockquote class="twitter-tweet">
 Bolivia’s crypto market surged, daily USDt liquidity grew from $20K to nearly $1M in under a year.<a href="https://twitter.com/gcampa86?ref_src=twsrc%5Etfw">@gcampa86</a> explains why <a href="https://twitter.com/towerbankintl?ref_src=twsrc%5Etfw">@towerbankintl</a> is focused on this growth and helping re-establish trade connections. <a href="https://t.co/sepWo8Ef8p">pic.twitter.com/sepWo8Ef8p</a>— Bitfinex (@bitfinex) <a href="https://twitter.com/bitfinex/status/1969129419248664692?ref_src=twsrc%5Etfw">September 19, 2025</a>
</blockquote>
<h2 id="bolivia-s-future-will-be-decided-in-october">Bolivia’s future will be decided in October</h2>
Bolivia will hold a run-off vote between Rodrigo Paz Pereira’s Christian Democratic Party and Jorge “Tuto” Quiroga’s Freedom and Democracy alliance on Oct. 19.
To tackle corruption, Paz Pereira has <a data-ct-non-breakable="null" href="https://www.reuters.com/world/americas/who-are-bolivias-presidential-runoff-contenders-promising-economic-overhaul-2025-08-18/" rel="noopener nofollow" target="_blank" title="null">proposed</a> implementing blockchain technology for greater transparency, while Quiroga’s stance on crypto is less clear.
The winning party will lead Bolivia after nearly two decades under the Movement for Socialism, which has borne much of the blame for the country’s current economic crisis.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/3-people-who-unexpectedly-became-crypto-millionaires-and-one-who-didnt/" title="null">3 people who unexpectedly became crypto millionaires… and one who didn’t</a>

Toyota, Yamaha, BYD accept Tether in Bolivia as USD reserves shrink

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