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

ChainCatcher news, according to Bitcoin.com News, reports that based on the latest data from the Central Bank of Bolivia, the use of virtual assets in Bolivia's financial payment system surged in the first half of 2025, increasing by 630% compared to the same period in 2024. The transaction volume skyrocketed from $46.5 million in the first half of 2024 to $294 million in the same period of 2025, accumulating nearly $430 million since June 2024. Meanwhile, the number of operations grew 12 times, exceeding 10,000 transactions.The Central Bank of Bolivia stated that this growth reflects the effectiveness of its policies in providing alternatives for foreign exchange transactions for Bolivians, particularly 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 dollar.At the same time, Bolivian President Luis Arce acknowledged that the country is facing a dollar shortage, stating that the existing dollars are primarily used for fuel and debt payments, and cannot further support the foreign exchange market. Nevertheless, in May of 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.
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