USDT Gains Ground as Everyday Currency in Bolivia Amid Grassroots Adoption

In Bolivia, Tether’s CEO, Paolo Ardoino, reported a significant adoption of USDT as a unit of account, with various items now priced in the dollar-pegged stablecoin.

This development occurs as Bolivia faces dollar and gas shortages, leading to economic unrest. Despite prior government hostility towards stablecoins, the lifted ban on using the financial system for crypto purchases last year has made Bolivia a cryptocurrency hub.

Retailers price goods in USDT, allowing customers to pay in fiat or USD based on central bank and Binance P2P exchange rates. Tether actively focuses on emerging markets, aiming to provide financial inclusion and dollar access, as evidenced by recent investments in Latin American and African financial service providers.

Clever Robot News Desk 9^th June 2025