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Bolivia to use crypto to pay for energy imports — report

Bolivia intends to use cryptocurrency for energy imports, prompted by a foreign currency shortage. The state-owned YPFB has plans for a new payment system, although it has yet to be implemented. The exact cryptocurrency remains undisclosed, leading to speculation about the potential use of stablecoins like USDT.

Since lifting its ban on Bitcoin in 2024, Bolivia has seen remarkable growth in cryptocurrency usage, with a 100% increase in virtual asset trading, totaling approximately 15.6 million USD monthly. This shift may help address financial challenges amidst the ongoing fuel crisis.

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