USDT Rising in Bolivian Shops Amid Economic Turmoil

- Bolivian airport shop prices goods in stablecoin USDT - Reflects growing unofficial use of USDT in economically stricken Bolivia On June 9, 2025, Cointelegraph reported that Tether CEO Paolo Ardoino shared images. These images showed Bolivian airport shop goods priced in USDT, reflecting USDT's growing unofficial use amid the country's severe economic crisis. According to a Cointelegraph report on June 7, Ardoino had shared images earlier that day from Duty Fly, a Bolivian airport shop, which also showed goods priced in the stablecoin USDT. This further indicates a growing unofficial use of USDT as a reference currency, as Bolivia faces a severe economic downturn that has caused a significant drop in foreign reserves and high inflation. The shop's notice stated prices are set in USDT, and the Central Bank of Bolivia provides the reference rate daily, based on Binance's rate. Customers could make payments in Bolivianos or US dollars; however, this use of USDT suggests it helps establish the exchange rate between the local currency, Bolivianos, and the US dollar. The full extent of this practice remains unclear. However, other reports indicate USDT's increasing popularity in Bolivia; for instance, it was reported in late October 2024 that a major local bank, Banco Bisa, began offering USDT custody services. Bolivia's economy struggles, as foreign reserves have fallen sharply and a black market for US dollars thrives. As of March 2025, local Consumer Price Index inflation stood at 14.6%. According to the Cointelegraph report on June 9, one such image shared by Ardoino showed a pack of Oreos priced between 15 and 22 USDT, a price that highlights the erosion of the local currency's purchasing power. According to the latest market data on June 9, 2025, at 11:17 UTC, Tether USDt (USDT) trades at $1.001, and its 24-hour trading volume has changed by 0.018%.