Can Stablecoins Help Bolivian Businesses Beat Dollar Shortages?
As of 2025, Bolivia’s dollar shortage is more than a headline—it's a crisis reshaping how local businesses operate, from agriculture to technology. “The dollar shortage is strangling operations for many Bolivian companies, especially those that rely on imports and international payments,” stated Luis Fernando Barbery, president of the Confederation of Private Businessmen of Bolivia, in a March 2025 interview (Página Siete, 2025). An Ipsos Ciesmori survey in October 2024 found that 84% of Bolivians identified the dollar shortage as the most impactful factor in the economy. With inflation rising, fuel scarcities, and access to foreign currency tightening, companies are seeking urgent alternatives to traditional banking rails. In this environment, Stablecoins Bolivia are emerging as a potential lifeline.
For any business looking for alternatives to wire transfers, understanding this shift is critical to surviving and thriving in the new cross-border payment landscape.
Why Is There a Dollar Shortage in Bolivia?
It’s a question nearly every Bolivian business leader and importer is asking: what is driving the acute dollar shortage Bolivia faces today? The answer lies in a combination of declining natural gas exports, dwindling foreign reserves, and a series of economic and political shocks.
Events such as the failed coup attempt in June 2024 further fueled economic uncertainty and demand for dollars as a safe-haven asset.
According to the Bolivian Central Bank, the country’s reserves dropped from $15 billion in 2014 to just over $2 billion by late 2024, with only $121 million being liquid (bolivianthoughts.com, 2024). This shortage has forced companies to source dollars on the parallel market, where the premium recently soared to over 60% above the official rate (CBT, 2025).
As a result, import costs and international freight rates have surged—CBT reported a 50% increase in shipping fees last year. These rising costs have contributed to inflationary pressures throughout the agriculture and food supply chain, worsening the impact on everyday consumers.
The dollar squeeze is reverberating through every sector, from logistics to retail.
Businesses are now under pressure to find safer, more stable ways to facilitate cross-border payments Bolivia without being exposed to runaway costs and risky black market transactions.
Are Stablecoins Legal and Practical for Bolivian Businesses?
Legal uncertainty has long been a barrier for digital assets in Bolivia, but the landscape shifted in March 2025. The Bolivian government announced it would permit regulated use of cryptocurrencies, including stablecoins Bolivia, for business payments, provided platforms comply with KYC/AML and documentation standards (Reuters, 2025). The new openness has also encouraged international fintechs to partner with Bolivian banks, improving on/off-ramp support for businesses.
In a statement, the Central Bank highlighted the need for “modern payment channels to support productive sectors challenged by the dollar shortage” (Central Bank of Bolivia, 2025).
Bolivian businesses can now use stablecoins in cross-border transactions, so long as they follow new guidelines.
Notably, the state energy firm YPFB was authorized to use crypto for energy imports, underscoring the government’s pragmatic turn. This move was driven by the need to support national fuel subsidies and maintain economic stability as dollar resources dwindled. For more detail on the evolving policy, see our analysis on whether using stablecoins is legal for businesses in Bolivia.
How Stablecoins Solve the Dollar Shortage for Businesses
Stablecoins Bolivia offer a stable, digital alternative to scarce U.S. dollars—solving several pain points for local businesses. Imagine a scenario where a Bolivian SME needs to pay a supplier abroad: rather than face a 60% premium in the parallel market, they can now use a platform like Mural Pay to access virtual USD accounts and settle invoices in minutes.
Here’s how stablecoins stand out:
Access to Digital Dollars: Stablecoins such as USDC and USDT are pegged 1:1 to the U.S. dollar, allowing businesses to store and transact in digital USD.
Efficient Cross-Border Payments: Transactions settle within minutes, at a fraction of the cost of traditional bank wires.
Inflation Hedge: Holding value in stablecoins protects against local currency devaluation.
Bypassing Black Market Premiums: Stablecoins offer a route around costly and risky informal exchanges.
According to Chainalysis, stablecoin transaction volume in Latin America topped $120 billion in 2023, with B2B payments rising by 45% year-over-year (Chainalysis, 2024). In Brazil, stablecoins have accounted for up to 70% of indirect flows from local to global exchanges, reflecting strong regional momentum.
Platforms like Mural Pay provide virtual USD accounts and compliant payment platforms, making these benefits accessible for Bolivian businesses.
Some Bolivian companies are also adopting hybrid models, combining stablecoins with traditional banking to optimize both speed and access to funds.
Step-by-Step – Using Stablecoins for International Payments in Bolivia
Many organizations are now asking how to practically adopt stablecoins in their day-to-day operations. Here’s a clear roadmap for Bolivian businesses:
Choose a compliant platform: Start with a trusted provider like Mural Pay, which offers local support and adheres to KYC/AML standards.
Set up and verify your account: Complete onboarding and any required verification.
Fund your account: Deposit Bolivianos or other accepted currencies.
Convert to stablecoins: Exchange your funds for USDC, USDT, or another stablecoin.
Pay suppliers or receive payments: Use your balance for fast, cross-border transactions, or for international invoicing.
Withdraw funds as needed: Convert back to local currency using compliant on/off ramps.
Stablecoin transactions typically settle within minutes, compared to several days for bank wires (Chainalysis, 2024).
Businesses should also verify local liquidity and regulatory compliance for smooth conversions.
Always retain transparent documentation for all transactions to comply with changing regulations.
Risks, Challenges, and the Path Forward
It’s tempting to believe that stablecoins are a cure-all for Bolivia’s payment woes, but risks remain. Regulatory frameworks, while changing, could shift again—creating uncertainty for businesses relying on digital assets.
Liquidity concerns can also arise during high-demand periods, making it critical to plan off-ramps in advance.
“The legal environment in Bolivia is improving, but companies must still prioritize platforms with robust KYC/AML and transparent reporting,” notes Dr. María Teresa Morales, a Bolivian fintech legal analyst (El Deber, 2025).
As Carole House, former White House advisor, observes, “Transaction speed and transparency are game-changers for SMEs operating under currency controls.”
The smart move is to focus on regulated providers and maintain clear documentation for every transaction.
For insights on managing risk, see our guide to stablecoin on/off-ramps for Bolivian businesses.
Staying agile and informed is the best defense as policy continues to change.
Real-World Proof—Case Studies from Bolivia and Beyond
Mini Case Study: Bolivian SME Avoids Black Market Losses
A mid-sized exporter in Santa Cruz, unable to source dollars through banks, turned to stablecoins in early 2025. By paying suppliers via USDC, the company settled invoices within 24 hours—avoiding a 20% black market premium and reducing transaction costs by 5% compared to a traditional wire.
Mini Case Study: Argentine Agency Shields Contractors from Inflation
An Argentine virtual assistant agency, facing payout inefficiencies, adopted stablecoin payments. The result: 70% faster payments and contractors protected from peso inflation.
These approaches mirror the strategies used by firms across Latin America, where stablecoin solutions are rapidly becoming mainstream.
Comparison: SWIFT vs. Stablecoin Payments
SWIFT wire: 1–5 business days, 6.2% average fee, 6% failure/delay rate.
Stablecoin: Minutes, under 1% fee, real-time tracking (Chainalysis, 2024).
With features like batch payments and virtual accounts, businesses can streamline cross-border operations and build resilience against currency shocks.
Definitions, Policy, and Best Practices for Bolivian Businesses
What Is a Stablecoin?
A stablecoin is a digital asset pegged to a fiat currency, such as the U.S. dollar, designed for price stability. Examples include USDC and USDT. See our glossary for more definitions.
On/Off-Ramps:
Services that convert between fiat and crypto—critical for businesses moving funds in and out of stablecoins.
Virtual Account:
A digital account for holding and transacting in foreign currencies without a physical bank presence.
Policy Update:
In March 2025, the Bolivian government authorized YPFB to use crypto for imports. This signals a pragmatic shift toward digital assets, but businesses must still use regulated platforms and maintain transparent records.
Maintaining clear, up-to-date transaction records is vital for audits.
Explicit frameworks for business use of digital assets are expected to develop within the next 1–2 years as the government continues to adapt to new market realities.
Access our documentation for compliance resources.
Unregulated platforms can expose companies to legal and financial risks—staying compliant is non-negotiable as frameworks change.
Conclusion: The Future of Stablecoins for Bolivian Businesses
Looking ahead, Stablecoins Bolivia represent a transformative opportunity for local businesses to regain control over business international payments Bolivia. Latin America is already the world’s fastest-growing region for stablecoin B2B payments (Chainalysis, 2024).
Early adopters in Bolivia can gain a competitive edge as the regulatory landscape matures.
Innovative features like batch invoicing and real-time payment tracking are fast becoming standard expectations for Bolivian SMEs.
For tailored guidance, request a demo from Mural Pay and discover how compliant stablecoin solutions can future-proof your international operations.
Stay tuned for further updates as Bolivia’s digital payment ecosystem changes.
References
Bolivian Chamber of National and International Transport (CBT). (2025). Public freight rate report.
Chainalysis. (2024). The State of Crypto in Latin America. https://www.chainalysis.com/blog/2024-latin-america-crypto-adoption/
Reuters. (2025). Bolivia legalizes regulated crypto use for business transactions. https://www.reuters.com/markets/bolivia-turns-crypto-energy-imports-amid-dollar-fuel-shortages-2025-03-12/
Página Siete. (2025). Interview with Luis Fernando Barbery. https://www.paginasiete.bo/
bolivianthoughts.com. (2024). Inflation, dollar shortage, and fuel scarcity update. https://bolivianthoughts.com/2024/12/29/inflation-dollar-shortages-and-fuel-scarcity-the-new-face-of-bolivia-inflacion-escasez-de-dolares-y-falta-de-combustible-la-nueva-cara-de-bolivia/
El Deber. (2025). Interview with Dr. María Teresa Morales. https://eldeber.com.bo/
