BitGo Bank & Trust has enabled TOYOSA S.A., Bolivia's exclusive distributor for Toyota, Lexus, and Yamaha, to accept stablecoin payments at its dealerships. The first vehicle purchase using USDT occurred on September 20, 2025, with the partnership officially announced between September 19 and 22.
Customers can complete transactions by scanning QR codes at Toyosa and Crown dealerships. BitGo, which secured a national bank charter from the Office of the Comptroller of the Currency in December 2025, handles institutional custody and settlement for USDT payments. Towerbank provides regulated payment processing and fiat integration.
The acceptance program has expanded beyond Toyota. By late 2025, USDT payments were also live at BYD and Yamaha dealerships operating under Crown Ltda., making three major vehicle brands in Bolivia accepting stablecoins at point of sale.
Why Stablecoins Instead of Bitcoin
The system uses USDT rather than Bitcoin. Stablecoins peg their value to the US dollar, eliminating the volatility that has historically made Bitcoin impractical for pricing goods like vehicles.
Bolivia's Dollar Shortage Drove Adoption
Bolivia has faced a chronic US dollar shortage affecting importers, businesses, and consumers requiring hard currency for international trade. The country lifted its ban on crypto transactions in June 2024, creating conditions for alternative payment methods.
The Central Bank of Bolivia reported $294 million in crypto-asset payments during the first half of 2025, representing a 630% increase compared to the $46.5 million recorded for all of 2024.
By mid-2026, BitGo's Latin America leadership showcased the Bolivia initiative at the Bolivia Crypto Experience Summit, positioning the country as a case study for stablecoin adoption driven by economic necessity.
