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      BitGo Bank & Trust Enables Stablecoin Payments for Toyota Vehicles in Bolivia

      BitGo Bank & Trust has launched a stablecoin payment system for TOYOSA S.A., Bolivia's exclusive distributor of Toyota, Lexus, and Yamaha vehicles. Customers can now purchase cars using Tether's USDT, with the first transaction recorded on September 20, 2025. This initiative allows buyers to complete transactions by scanning QR codes at dealerships, making the process as seamless as mobile payments for everyday purchases.

      The move comes amid a significant surge in Bolivia's cryptocurrency adoption, with the Central Bank of Bolivia reporting a 630% increase in crypto payment volume year-over-year. In the first half of 2025 alone, crypto-asset payments reached $294 million, a stark rise from $46.5 million for all of 2024. This growth follows the country's decision to lift its ban on cryptocurrency transactions in June 2024, addressing a chronic shortage of US dollars that has impacted businesses and consumers alike.

      BitGo, which received a national bank charter from the Office of the Comptroller of the Currency in December 2025, manages the custody and settlement of USDT payments. Towerbank facilitates the regulated payment processing and fiat integration. The acceptance of USDT has already expanded beyond Toyota, with BYD and Yamaha dealerships also accepting stablecoin payments, marking a significant step in the integration of cryptocurrency into everyday commerce in Bolivia.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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