TechFlow news, June 29 — According to Bitcoin.com News, citing the latest data from Bolivia's Central Bank, virtual asset usage in Bolivia's financial payment system surged by 630% during the first half of 2025 compared to the same period in 2024. Transaction volume soared from $46.5 million in the first half of 2024 to $294 million in the same period in 2025, totaling nearly $430 million since June 2024. Meanwhile, the number of operations increased twelvefold, exceeding 10,000 transactions.
The Central Bank of Bolivia stated that this growth reflects the effectiveness of its policies in providing Bolivians with alternative foreign exchange transaction options, particularly benefiting micro-entrepreneurs in areas such as remittances, small purchases, and payments. In June 2024, Bolivia lifted its ban on integrating virtual assets with traditional payment systems, after which the country became a hotspot for cryptocurrency and stablecoin payments, with stablecoins widely used as proxies for the U.S. dollar.
At the same time, Bolivian President Luis Arce acknowledged the country is facing a shortage of U.S. dollars, stating that existing dollar reserves are primarily allocated for fuel and debt payments and cannot provide additional support to the foreign exchange market. Nonetheless, in May this year, Bolivia banned its state-owned oil company from using stablecoins to purchase fuel in foreign markets in an effort to curb distortions in stablecoin exchange rates.
