Bolivia and El Salvador Synergize on Crypto Adoption Amidst Economic Crisis, What’s Happening?

Jakarta, Pintu News – At a time of deep economic crisis, Bolivia is partnering with El Salvador to accelerate the adoption of cryptocurrencies as a reliable alternative to fiat currencies. The partnership is expected to address the economic challenges faced by both countries.

Check out the full info in this article!

Strategic Partnerships for the Future of Digital Finance

Bolivia has signed a memorandum of understanding with El Salvador’s National Commission on Digital Assets (CNAD) to develop digital asset policy and regulation. The cooperation aims to leverage the experience of El Salvador, the first country to adopt Bitcoin (BTC) as legal tender in 2021.

Both countries are committed to exchanging technical and regulatory knowledge, including the use of blockchain intelligence tools. This memorandum of understanding is effective from the time it is signed and has no expiration date.

This marks an important step in the utilization of digital assets as a viable and reliable alternative to traditional currencies. Especially for families and small businesses affected by economic instability.

Also read: 3 Crypto that can surpass the rise of Ethereum (ETH), potentially up 15,000%!

Response to the Economic and Monetary Crisis

Bolivia is facing a severe economic crisis with foreign exchange reserves plummeting from $12.7 billion in 2014 to just $165 million in April 2025. This situation forced Bolivia to look for other alternatives in financial transactions.

In June 2024, Bolivia lifted its long-standing crypto ban, allowing transactions in Bitcoin (BTC) and stablecoins such as Tether (USDT). Since the lifting of the ban, crypto trading volume in Bolivia has doubled, reaching $294 million by mid-2025.

This increase shows the rapid adoption and growing confidence in digital assets as a stable store of value amid economic uncertainty.

Also read: Want Financial Freedom in 2025? Here are 5 Cryptos You Must Own!

Increased Transactions and Adoption by the Community

Since crypto was permitted, virtual asset transactions in Bolivia have increased significantly. In the first half of 2025, transactions reached $294 million, up from $46.5 million in the same period the previous year. This represents a 630% growth in domestic crypto transactions, with individual users accounting for 86% of total transactions.

This increase reflects growing confidence in crypto as a more stable alternative store of value compared to the local currency, Boliviano (BOB), whose exchange rate continues to decline. The rise is also driven by the need for economic stability and greater access to modern financial tools.

Conclusion

The partnership between Bolivia and El Salvador opens a new era in the use of digital assets in Latin America. With this cooperation, both countries hope to overcome existing economic challenges and open up new opportunities for economic growth through innovative financial technology.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto Times. Bolivia Calls Crypto Reliable Alternative to Fiat Currency. Accessed on August 2, 2025
• BeInCrypto. Bolivia and El Salvador Reach Crypto Agreement. Accessed on August 2, 2025
• Featured Image: Cripto247