Tether CEO: Toyota, BYD, and Yamaha now accept USDT in Bolivia

Tether CEO Paolo Ardoino wrote on X that global automakers Toyota, BYD, and Yamaha have started accepting USDT payments in Bolivia, marking a new milestone for stablecoin adoption in Latin America.

Ardoino described USDT as the “digital dollar” for hundreds of millions of people in emerging markets, noting that its ubiquity and simplicity are driving mass adoption. In Bolivia, consumers can now buy vehicles and motorcycles directly in USDT, with Ardoino highlighting the shift with the phrase: “Tu vehículo en dólares digital.”

The development reflects a broader trend across Latin America, where stablecoins are increasingly filling the gap left by volatile local currencies and limited access to U.S. dollars. In Bolivia, where strict foreign exchange controls have created a parallel demand for dollar substitutes, USDT has become a preferred medium of exchange.

Analysts note that stablecoins like USDT are not just tools for trading in crypto markets but are now embedding themselves into real-world commerce. From remittances to retail payments, Latin America has become one of the fastest-growing regions for stablecoin transactions.

While USDT remains the dominant player with over 58% of the global stablecoin market, rivals like USDC and newcomers such as USDE are also expanding in adoption. However, USDT’s reach in emerging markets - often through informal networks and merchant integrations - gives it a unique advantage.

As GN Crypto reported, the total market capitalization of stablecoins climbed to $292.62 billion, marking a 1.37% increase in the past seven days.