Bolivia’s First USDT Toyota Purchase Spurs Crypto Adoption

Since lifting its crypto ban in June 2024, Bolivia has faced severe dollar shortages, prompting major manufacturers such as Toyota, Yamaha and BYD to accept Tether’s USDT stablecoin. On September 20, a local Toyota dealership completed the country’s first USDT-backed vehicle purchase, verified by crypto custodian BitGo. Dealers partnered with BitGo to ensure secure self-custody and large transfers. Bolivia’s Central Bank reported $294 million in crypto payments in H1 2025, a 630% year-on-year increase. Local USDT liquidity has surged from roughly $20,000 daily in early 2024 to nearly $1 million this year. Market data from DefiLlama shows USDT’s market cap at $172.3 billion, representing 58.8% of the stablecoin sector. Bolivian legislator Mariela Baldivieso noted that Bolivia now ranks among Latin America’s top five crypto adopters, with regional adoption at 63% in 2025 according to Chainalysis. Tether also unveiled the USA₮ token under the GENIUS Act to meet US regulatory standards. A MEXC survey found global crypto adoption jumping from 29% to 46% quarter-on-quarter, driven by economic pressures in East Asia and the Middle East. For crypto traders, the real-world use of USDT underscores growing stablecoin demand and higher transaction volumes in a volatile currency environment. While USDT’s price remains pegged, increased adoption may boost trading activity and market confidence.