Bolivia's Crypto Payments Surge 630% in 2025 Amid Dollar Shortage and Policy Shift

Key Takeaways:Virtual asset use in Bolivia jumped 630% YoY in H1 2025, reaching $294M in transactions.Central Bank credits policy changes aimed at easing USD pressure and supporting small businesses.Crypto adoption gains traction amid foreign exchange restrictions and remittance needs.Bolivia’s Crypto Transactions Jump 630% in H1 2025 as Central Bank Pushes Dollar AlternativesBolivia has recorded a dramatic surge in virtual asset usage within its financial payment system, with transaction volumes rising by 630% in the first half of 2025 compared to the same period last year, according to data reported by TechFlow. The total value of crypto-related transactions rose from $46.5 million in H1 2024 to $294 million in H1 2025.The Central Bank of Bolivia attributed the spike to recent policy initiatives aimed at reducing dependence on U.S. dollars and offering alternative financial tools, particularly for small and micro-sized enterprises. These measures have proven especially effective in supporting remittances, digital payments, and low-value transactions.President Luis Arce has publicly acknowledged the ongoing shortage of U.S. dollars—a critical issue for the country, which relies on the greenback to cover fuel imports and foreign debt obligations. In response to exchange rate pressure, Bolivia implemented restrictions in May, banning state oil companies from using stablecoins to purchase fuel.The Central Bank emphasized that its evolving stance on virtual assets is helping stabilize the local economy while increasing financial inclusion. The rise in crypto payments reflects growing grassroots adoption as Bolivians seek accessible and efficient alternatives to traditional banking amid macroeconomic challenges.As the dollar shortage persists, Bolivia’s embrace of digital assets may signal a broader shift in Latin America, where several countries are reevaluating the role of crypto in national financial systems.