TLDR
- Toyota, BYD, and Yamaha accept USDT payments in Bolivia after the 2025 crypto surge.
- Bolivia recorded $294m crypto payments in early 2025, up from $46.5m in 2024.
- Bolivia lifted its crypto ban in June 2025, enabling banks to process digital assets.
- Latin America processed $415b in crypto in 2024, Chainalysis adoption index showed.
Toyota, BYD, and Yamaha have begun accepting USDT payments in Bolivia, confirmed by Tether CEO Paolo Ardoino. He called USDT the “digital dollar” powering emerging economies. The announcement coincides with Bolivia’s 630% jump in crypto transactions in 2025, reflecting Latin America’s rising preference for stablecoin-based financial solutions.
Bolivia Accelerates Stablecoin Adoption
Bolivia has taken another step in integrating digital assets into daily transactions as Toyota, BYD, and Yamaha announced they will accept USDT payments. The news was confirmed by Tether CEO Paolo Ardoino on September 21, 2025, in a social media post describing USDT as the “digital dollar” serving millions worldwide.
Bolivia’s Central Bank reported that crypto transactions reached $294 million in the first half of 2025, compared with $46.5 million during the same period in 2024. This represents a 630% increase, fueled by both private and public sector initiatives to expand digital finance and stabilize purchasing power against volatile currencies.
Regulation Opens the Door for Stablecoin Use
The adoption follows Bolivia’s June 25 decision to repeal its long-standing crypto ban and formally recognize “virtual assets.” This move allowed local banks and financial institutions to process digital asset transactions under supervision. Yvette Espinoza, representing the Autoridad de Supervisión del Sistema Financiero (ASFI), stated that the framework gives Bolivia the tools to regulate transactions while expanding financial access.
Earlier in March, the government authorized Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) to conduct crude oil imports in either U.S. dollars or cryptocurrencies, showing confidence in blockchain-based payment options.
Private sector participation has also grown. Banco Bisa introduced custodial services for USDT in October 2024, providing retail clients access to trading and storage. More recently, the Central Bank of Bolivia signed a memorandum of understanding with El Salvador’s National Commission of Digital Assets, aiming to develop joint strategies for blockchain integration.
Latin America Strengthens Its Crypto Role
Latin America has become one of the world’s fastest-growing crypto markets. According to Chainalysis, regional adoption climbed from 53% in 2024 to 63% in 2025, representing 9.1% of the total global cryptocurrency value. The region processed $415 billion in digital assets between July 2023 and June 2024. Economic instability continues to drive this momentum.
In Argentina, inflation above 100% has pushed citizens toward stablecoins to protect savings. Brazil has advanced crypto adoption through clear regulations and technology development, reaching nearly 2 million users, while in Mexico, USDT and Bitcoin dominate international transfers as the peso depreciated by 23% in 2025.
Colombian investors have also relied on stablecoins to bypass restrictions on dollar access, further strengthening the role of dollar-pegged digital currencies. With three countries: Brazil, Venezuela and Argentina, ranking in the top 20 global adopters in 2025, the region has established itself as a leading hub for crypto-driven financial activity.
Automakers Extend Blockchain Engagement
Toyota, BYD, and Yamaha’s introduction of USDT payments reflects growing collaboration between global manufacturers and digital finance. This expansion builds on earlier blockchain-related projects led by Toyota. In 2024, Toyota Blockchain Lab presented a system based on Ethereum’s ERC-4337 standard to assign blockchain-linked identities to vehicles, enabling advanced mobility services.
Around the same time, Toyota’s finance division announced blockchain-based security token bonds, known as ST bonds, distributed through the Toyota Wallet platform. These bonds provided benefits to customers maintaining Toyota Wallet memberships, combining loyalty with digital innovation.
Bolivian legislator Mariela Baldivieso stated that expanding crypto acceptance could “strengthen the region’s economic foundation.” She also noted that Bolivia is positioning itself among the top five adopters of digital assets in Latin America, supported by government policy changes and partnerships with major industries.
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