Bolivia will begin integrating stablecoins into its formal financial system as part of a broader modernization agenda, Economy Minister Jose Gabriel Espinoza said in comments reported by Reuters. The move comes as the new government seeks to stabilize the economy and expand financial inclusion following years of strict currency controls and limited access to foreign exchange.
Espinoza said banks will be permitted to offer stablecoin services, including savings accounts, credit cards and loans. The government intends for these assets to function as legal tender payment instruments within regulated channels, giving citizens and businesses a new option for transactions in a financially strained economy.
Stablecoins surge after prior ban lifted
Stablecoin adoption in Bolivia has increased rapidly since the country lifted its previous ban last year. Households and small businesses have increasingly used U.S. dollar-pegged tokens as a hedge against the depreciating boliviano and persistent shortages of foreign currency. Analysts cited by Reuters say transaction volumes have expanded sharply as users search for more reliable stores of value.
Espinoza said the policy acknowledges that crypto assets cannot be controlled at the global level and should therefore be incorporated into the financial system in a way that supports inclusion and consumer protection. The new rules would bring stablecoins inside a regulated framework for the first time, shifting them from informal markets to bank-supervised channels.
The proposal still requires congressional approval. If adopted, Bolivia would become one of the few Latin American countries to embed stablecoins directly into its regulated banking infrastructure, a step that could influence financial access but also raise new oversight and stability challenges.