Major automotive manufacturers Toyota, Yamaha, and BYD have begun accepting Tether (USDT) for payments in Bolivia, addressing the country's severe U.S. dollar shortage. Tether CEO Paolo Ardoino announced the initiative, positioning USDT as a digital dollar solution for emerging markets. BitGo confirmed the first Toyota purchase using USDT in Bolivia, marking a significant step in stablecoin adoption.
This development follows Bolivia's recent bilateral agreement with El Salvador to explore cryptocurrency as an alternative to traditional fiat, aiming to modernize financial infrastructure and enhance financial inclusion. The collaboration between these companies and the use of stablecoins like USDT highlights the growing role of cryptocurrencies in global commerce.
Toyota, Yamaha, and BYD Accept Tether in Bolivia Amid Dollar Shortage
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