Toyota, Yamaha, BYD accept Tether in Bolivia as USD reserves shrink
Tether is now being accepted for payments at Toyota, Yamaha and BYD in Bolivia as businesses increasingly turn to stablecoins to navigate the country’s US dollar shortage.
Three major international vehicle manufacturers have started accepting a Tether in Bolivia to navigate its collapsing US dollar reserves, marking a major step in the Latin American country’s crypto adoption.
Tether CEO Paolo Ardoino shared that Toyota, Yamaha, and BYD are taking Tether (USDT) for payment on Sunday, while crypto security firm BitGo confirmed the first Toyota was purchased in Bolivia with USDT on Saturday.
Pictures shared by Ardoino show a dealership displaying signs that advertise USDT as an “easy, fast, and safe” payment option for car purchases.
