Bolivia is witnessing a surge in stablecoin adoption as Bisa Bank, one of the country’s major private banks, launches its first suite of services for Tether (USDT). With this launch, customers can now buy, sell, and hold USDT directly within Bisa Bank accounts, opening a regulated pathway for using stablecoins in remittances and international payments.
This move marks a notable shift as Bolivian private institutions begin embracing cryptocurrency, particularly stablecoins, to meet growing demand. Bisa Bank, the fourth-largest bank in Bolivia, introduced these USDT options to provide a dollar-backed digital asset to help customers manage and secure funds safely.
Yvette Espinoza, president of Bolivia’s banking regulatory body ASFI, endorsed the move, noting that it promotes security by minimizing riskier interactions with the broader cryptocurrency market.
“This is a custodial service enabling clients to operate with stability and reduced exposure to risks often associated with cryptocurrencies,” Espinoza commented.
Bisa Bank plans to charge transaction fees from $5 to $15 for USDT purchases of 200–10,000 USDT per day. For international transfers, USDT transactions will incur fees of around $40, making it an appealing alternative for customers seeking secure, bank-backed options for digital payments abroad.
Bisa Bank’s Business Vice President, Franco Urquidi, emphasized the added security of these services, as they require clients to use verified accounts, ensuring safe, transparent transactions. “Our customers undergo a thorough verification process, assuring them that their transactions happen through secure channels,” he stated.
The addition of USDT underscores the role of stablecoins, especially Tether—now with a market cap exceeding $120 billion—in countries with limited dollar access. Bolivia’s fixed exchange rate has driven interest in stablecoins as a secure store of value amid recurring dollar shortages.
The Central Bank’s recent actions to sell dollars directly to citizens underscored this scarcity, while a relaxation in crypto regulations has fueled increased digital asset usage.
With Bolivia’s central bank lifting restrictions on Bitcoin and cryptocurrencies within its financial system earlier this year, crypto transactions have doubled, signaling a growing appetite for digital solutions in the Bolivian economy.