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Bolivia and El Salvador Formalize Open-Ended Crypto Collaboration

The pact leverages El Salvador’s Bitcoin legal-tender experience to shape blockchain intelligence, risk modeling, regulation in Bolivia’s fast-growing crypto market.

Overview

  • The memorandum of understanding signed July 30 by the Central Bank of Bolivia and El Salvador’s National Commission of Digital Assets activates immediately and has no expiration.
  • The partnership draws on El Salvador’s pioneering Bitcoin legal-tender blueprint to guide Bolivia’s regulatory and technical crypto framework.
  • Since repealing its decade-old crypto ban in June 2024, Bolivia’s digital asset transactions have jumped from $46.5 million to $294 million over the past year.
  • Bolivia authorized its state-run oil and gas company YPFB to use cryptocurrencies for fuel imports to mitigate foreign exchange shortages.
  • Grassroots adoption continues as Bolivian small businesses, from restaurants to beauty salons, increasingly accept Bitcoin and USDT payments.