Data: The usage of virtual assets in Bolivia surged over 600% in the first half of 2025.

According to a report from Bitcoin.com News on June 29, the latest data from the Central Bank of Bolivia shows that the use of virtual assets in Bolivia's financial payment system surged in the first half of 2025, rising by 630% compared to the same period in 2024. The volume skyrocketed from 46.5 million USD in the first half of 2024 to 294 million USD in the same period of 2025, accumulating nearly 430 million USD since June 2024. Meanwhile, the number of operations increased 12 times, exceeding 10,000 transactions.

The Central Bank of Bolivia stated that this rise reflects the effectiveness of its policies in providing foreign exchange trading alternatives for Bolivians, especially in areas such as remittances, small purchases, and payments, benefiting micro and small entrepreneurs. In June 2024, Bolivia lifted the ban on the combined use of virtual assets and traditional payment systems, after which the country became a hotspot for cryptocurrency and stablecoin payments, with stablecoins widely used as a proxy for the US dollar.

Meanwhile, Bolivia's President Luis Arce acknowledged that the country is facing a dollar shortage crisis, stating that the existing dollars are mainly used for fuel and debt payments and cannot additionally support the foreign exchange market. Nevertheless, in May this year, Bolivia prohibited its state-owned oil company from using stablecoins to purchase fuel in foreign markets to curb the distortion of stablecoin exchange rates.