Data: Bolivia sees over 600% surge in virtual asset usage in the first half of 2025

According to Bitcoin.com News, 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, according to the latest data from the Central Bank of Bolivia. Transaction volume soared from $46.50 million in the first half of 2024 to $294.00 million in the same period of 2025, accumulating nearly $430.00 million since June 2024. At the same time, the number of operations increased 12-fold, exceeding 10,000 transactions. The Central Bank of Bolivia stated that this growth reflects the effectiveness of its policies in providing Bolivians with alternative foreign exchange transaction options, especially in areas such as remittances, small purchases, and payments, benefiting micro and small entrepreneurs. Since Bolivia lifted the ban on the use of virtual assets in conjunction with traditional payment systems in June 2024, the country has become a hotspot for Cryptocurrency and stablecoin payments, with stablecoins being widely used as a proxy for the U.S. dollar. Meanwhile, Bolivian President Luis Arce acknowledged that the country is facing a U.S. dollar shortage, stating that the existing U.S. dollars are mainly used for fuel and debt payments and cannot additionally support the foreign exchange market. Nevertheless, in May of this year, Bolivia banned its state-owned oil company from using stablecoins to purchase fuel in foreign markets in order to curb stablecoin exchange rate distortions. [ChainCatcher]