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Toyota, BYD and Yamaha accept QR code-based USDT (Tether) large payments in Bolivia through BitGo custody, as dollar reserves collapsed 98% from $12.7 billion to $171 million

September 24, 2025 //  by Finnovate

USDT-payments are now available in Bolivia at Toyota, BYD, and Yamaha, connecting crypto with the sale of cars and their faster and safer process through BitGo and Towerbank. In Bolivia, Toyota, BYD, and Yamaha allow paying with USDT to purchase a vehicle or services, which was verified by the Tether CEO, Paolo Ardoino, on X. This is an initiative between ToyoTa S.A. and Crown Ltda., BitGo Trust Company, and Tether, as well as Towerbank. Customers may now buy vehicles, auto parts, and services with the USD -USD-stablecoin of Tether. Trades are completed on a fast and secure QR code-based payment platform supported by institutional custody by BitGo and crypto-friendly operations by Towerbank. USDT is currently used, and this is the case after Bolivia officially recognized virtual assets and removed a crypto ban in 2024. The transactions of cryptocurrencies in the country increased by 630 percent during the first half of 2025. The auto market in Bolivia alone will amount to more than 500 million dollars, of which the SUVs will constitute 327.7 million of this amount. This makes this payment option a significant breakthrough in selling high price products. The move was a new way of conducting business to make it easier to purchase vehicles. The integration of stablecoins will provide customers with unprecedented speed, security, and financial flexibility, to customers who may not have access to cash. Tether applauded this partnership because it demonstrated the practicality of stablecoins in the auto sector of Latin America.

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Category: Networks Processors & PSPs, Innovation Topics

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