Tether on the Shelf

Images from a Bolivian airport shop show a range of goods — from sunglasses to snacks — tagged with prices in USDT. But this isn’t just a gimmick. A notice displayed in the store explains:

“Our product prices are set in USDT (Tether), a stable cryptocurrency. The exchange rate is updated daily based on figures from the Central Bank of Bolivia and Binance.”

While customers can still pay in Bolivianos or U.S. dollars, USDT serves as the reference point for pricing — highlighting its emerging role as a de facto exchange anchor rather than a direct payment method.

A Growing Shift Toward Crypto

The store in question serves international travelers in a duty-free setting, but the presence of USDT is part of a broader trend. While the scale of adoption remains unclear, local developments suggest rising interest in digital assets.

In late 2024, Bolivia’s major bank Banco Bisa began offering USDT custody services, allowing customers to buy, sell, and transfer the asset directly through the institution. This move marked a significant step toward mainstream crypto integration in Bolivia.

Collapsing Economy Spurs Digital Alternatives

Bolivia’s economy has been spiraling downward for years. Foreign currency reserves, once at $15 billion in 2014, had plummeted to just $1.98 billion by the end of 2024 — and less than $50 million of that is liquid cash. The remainder is held in gold.

The local currency, Boliviano, continues to lose value, pushing citizens toward the black market for U.S. dollars, where rates hover around 10 Bolivianos per dollar — well above the official rate of 7.

Despite spending $56 million weekly on fuel imports, Bolivia is still grappling with shortages. Inflation soared to 14.6% as of March 2025, further eroding the population’s purchasing power.

In one telling example, a simple pack of Oreos was seen priced between 15 and 22 USDT, underscoring how Bolivians are turning to digital assets as both a hedge and a benchmark amid a rapidly deteriorating economy.

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The post USDT Price Tags Appear in Bolivia: A New Anchor Amid Economic Turmoil appeared first on Coin Engineer.

How Did the Crypto Scandal Affect the Markets?

Known for his interest in cryptocurrencies, Javier Milei recently expressed his support for Libra token. However, shortly after its launch, the token collapsed due to an insider sell-off of $107 million. In total, $4 billion in market capitalization was wiped out, causing massive losses for investors.

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This scandal also dealt a severe blow to Argentina’s financial stability. Local investors, concerned about Milei’s economic policies, started selling off their stock holdings. The banking and industrial sectors suffered sharp losses, leading to a more than 6% drop in the Merval Index.

In the coming days, the statements from Javier Milei and the government’s response will be crucial in determining the market’s direction.

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The post Argentina Stock Market Crashes After Libra Coin Scandal! appeared first on Coin Engineer.