Car companies Toyota, BYD, and Yamaha are accepting stablecoin USDT in Bolivia as a form of payment as the country’s economy deals with low U.S. dollar reserves.
“Toyota, BYD, Yamaha accepting USDT in Bolivia…”Tu vehiculo en dolares digital”…USDT is the digital dollar for hundreds of millions in the emerging markets. Ubiquity,” said Tether’s CEO Paolo Ardoino on X on Sunday.
Toyota, BYD, Yamaha accepting USDT in Bolivia
"Tu vehiculo en dolares digital"
USDT is the digital dollar for hundreds of millions in the emerging markets.
Ubiquity. pic.twitter.com/0X0SH3USXX— Paolo Ardoino ???? (@paoloardoino) September 21, 2025
The update comes as Bolivia deals with a number of economic problems, such as a parallel exchange rate and high levels of public debt.
Officially, the Bolivian Boliviano trades at roughly 7 BoB per U.S. dollar due to an official peg maintained by the government and central banks. However, a scarcity of the U.S. dollar in the country means the rates are reportedly much higher in unregulated markets.
According to Fitch ratings, most of the country’s international reserves were in the form of gold reserves ($1.89 billion) in December last year, instead of liquid hard U.S. currency, which was estimated close to $50 million.
Major car brands are still mulling the idea of using cryptocurrency as a form of payment with some doing a partial rollout for select products or choosing only one or two established bluechip cryptocurrencies as a form of payment. Currently car companies that are accepting some form of cryptocurrency include Ferrari, Tesla, Lamborghini, and BMW.