According to New Figures Published on Friday by the Bolivian Central Bank, Transactions Using Electronic Payment Channels and Instruments for Virtual Assets (Va) SoAred More Than 530%, from 46.5 Million in the First Half of 2024, to $ 294 Million in the same period of 2025.
New Figures Showed Monthly Transactions at a Record $ 68 Million in May.
“These tools have facilitated access to Foreign Currency Transactions, Including Remittans, Small Purchases and Payments, Benefiting Micro and Small Business Ownes Ownes Various, Sectors, Sectors, Sectors, Re As Families Nationwide, “The bank said in a statement.
Cryptocurrency was outlawed in Bolivia until June last year. Since the ban was lifted, transaction volumes reacted $ 430 Million Across more than 10,000 individual operations, the bank said.
The bolivian government was working on a “Comprehensive regulatory framework for financial technology companies,” That aligns with international standards (Gafilat), the bank added.
Bolivians are facing an acute economic crisis, with reserves of dollars near zero, inflation at 40-yar highs and fuel shortages causing long lines at the pump.
The South American Country’s Currency has lost ass value on the black market this year, even as the official exchange rate has been artificial Steady by Government.
That has meant more bolivians are looking for alternatives to protect their savings and make transactions. Crypto proponents have pushed blockchain-based tokens as an answer, thought economists warn that these digital offerings come with risks.
“This (Crypto uptick) isn’t a sign of stability,” said former Central Bank Head Jose Gabriel Espinoza. “It’s more a reflection of the deteriorating purchasing power of households.”
(Reporting by lucinda elliot in montevideo and Daniel Ramos in La Paz. Editing by Diane Craft)
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