The cryptocurrency market in Bolivia is experiencing significant growth and increased dynamism, with more financial institutions entering the space by offering secure digital asset custody and international transfer services. Following Banco Industrial de Santa Cruz (Bisa), the Banco de Crédito de Bolivia (BCP) has now launched its own crypto-enabled financial solutions — marking a pivotal shift in the country’s financial landscape.
This transformation comes after the Central Bank of Bolivia (BCB) lifted its ban on digital assets through Resolution No. 084/2024, issued on June 26, 2025. The resolution officially permits regulated financial entities to conduct operations involving digital assets, reversing a prohibition that had been in place since December 15, 2020.
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BCP Launches USDT-Powered International Transfers
BCP has introduced a seamless service allowing customers to send money abroad directly from their boliviano-denominated accounts. The system automatically converts bolivianos into USDT (Tether USD) — a dollar-pegged stablecoin — enabling fast, low-cost international transfers.
Using BCP’s mobile banking platform, users can initiate overseas payments without additional fees or complex procedures. Funds are converted into USDT at the daily exchange rate published on BCP's website and then settled into dollar-denominated foreign bank accounts.
“We are proud to offer an efficient and transparent solution at a time when many people need to support family members or meet international obligations,” said Christian Hausherr, General Manager of BCP. “With this new feature, our customers can make payments for education, healthcare, or other needs directly from their mobile phones — quickly and securely.”
How to Use BCP’s USDT Service
Opening a USDT account with BCP is straightforward:
- Access mobile banking via an Android device.
- Select the option to open a USDT account.
- Accept the service agreement.
- Upload a photo of your ID or take a selfie for verification.
- Confirm via OTP sent by email or WhatsApp.
To purchase USDT:
- Choose your boliviano account as the source.
- Select your USDT wallet as the destination.
- Review the day’s exchange rate.
- Complete the transaction.
For international transfers:
- Navigate to the “International Transfer” section.
- Enter beneficiary and destination bank details.
- Specify the amount and confirm using your security token.
- Receive instant confirmation of the completed transfer.
Transfer limits are set at up to 69,600 bolivianos (approximately $10,000 USD equivalent) per transaction, with no extra charges applied.
Banco Bisa Pioneers Crypto Custody with CriptoBisa
Earlier in 2025, Banco Bisa became the first Bolivian bank to roll out a comprehensive crypto service called CriptoBisa, offering custody, buying, selling, and international transfer capabilities for USDT.
Franco Urquidi, National Business Vice President at Banco Bisa, stated:
“We are providing users with a secure, reliable, and efficient way to manage USDT and conduct international dollar transactions using digital assets.”
Key Features of CriptoBisa
- Minimum purchase: 200 USDT
- Maximum daily limit: 10,000 USDT
- No transaction fees
- Secure custody managed through a globally recognized crypto infrastructure partner
Customers can use CriptoBisa for:
- Paying foreign suppliers
- Sending remittances
- Covering children’s university tuition abroad
- Financing international medical treatments
- Importing goods
Because USDT is pegged to the U.S. dollar, it eliminates exposure to the volatility commonly associated with cryptocurrencies like Bitcoin or Ethereum. This stability ensures that the value of funds remains consistent during transfers and storage.
What Is USDT?
USDT (Tether USD) is a type of cryptocurrency known as a stablecoin. Unlike volatile digital assets such as Bitcoin or Ethereum, USDT is designed to maintain a 1:1 value ratio with the U.S. dollar. Each token is backed by reserves consisting of cash and cash equivalents, ensuring price stability.
This makes USDT ideal for:
- Cross-border remittances
- International trade settlements
- Digital savings in high-inflation environments
- Secure custody of value without currency fluctuation risks
As a bridge between traditional finance and blockchain technology, USDT enables faster, cheaper, and more accessible financial transactions — especially valuable in countries like Bolivia where access to global banking services may be limited.
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Rising Adoption and Market Trends in Bolivia
According to data from the Central Bank of Bolivia (BCB), digital asset adoption is accelerating nationwide:
- Over 252,000 Bolivians held virtual assets as of late 2024.
- Transaction volumes on registered platforms surged from $46.4 million** in early 2024 to over **$75 million between July and October 2024.
- The number of transactions increased from 812 to 1,719 during the same period.
- Total transaction value rose from 600,000 bolivianos to 20.1 million bolivianos.
Additionally, the number of Financial Intermediation Entities (EIFs) offering digital asset services grew from five to nine within just four months. Transaction volumes among these institutions jumped from 575,000 bolivianos to 20.7 million bolivianos between July and October 2024.
These figures reflect rising public trust and growing institutional participation in Bolivia’s evolving digital economy.
Frequently Asked Questions (FAQ)
Q: Are cryptocurrency transactions legal in Bolivia now?
A: Yes. As of June 26, 2025, the Central Bank of Bolivia authorized regulated financial institutions to offer digital asset services under Resolution No. 084/2024.
Q: Is my money safe when using USDT through banks?
A: Yes. When used through regulated banks like BCP or Bisa, USDT transactions occur within secure, compliant frameworks. The stablecoin’s dollar backing also protects against crypto market volatility.
Q: Can I send money to any country using BCP’s USDT service?
A: You can send funds to any foreign bank account denominated in U.S. dollars, provided you have the correct beneficiary and routing details.
Q: Do I need prior knowledge of cryptocurrencies to use these services?
A: No. Both BCP and Bisa have designed their platforms to be user-friendly, requiring no technical expertise. The conversion and transfer processes are automated within the mobile banking app.
Q: Are there any hidden fees for buying or transferring USDT?
A: No. Both banks emphasize transparency — there are no additional commissions or hidden costs for purchasing USDT or making international transfers.
Q: How does using USDT benefit me compared to traditional wire transfers?
A: USDT-based transfers are typically faster (often completed within minutes), cheaper (no intermediary fees), and more transparent than traditional SWIFT transfers, which can take days and involve multiple banks charging fees.
The Future of Digital Finance in Bolivia
The integration of blockchain-based solutions into mainstream banking signals a new era for financial inclusion and efficiency in Bolivia. With two major banks already active and others expected to follow, digital asset adoption is poised for exponential growth.
As more Bolivians seek faster, cheaper ways to connect with global markets — whether for education, healthcare, or business — crypto-enabled banking services provide timely and practical solutions.
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With regulatory clarity now in place and demand on the rise, Bolivia stands at the forefront of a regional fintech revolution — one where digital assets are no longer fringe tools but essential components of modern finance.
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