BitGo discusses stablecoin adoption at Bolivia Crypto Experience Summit

You can now buy a Toyota in Bolivia with USDT. That sentence alone tells you how far stablecoin adoption has come in Latin America, and BitGo wants to make sure it gets credit for helping make it happen.

At the Bolivia Crypto Experience Summit held across La Paz and Santa Cruz in late July 2026, BitGo’s LATAM Country Manager Alvaro Olivares took the stage to discuss the company’s role in what the firm calls a historic milestone: Bolivia’s first-ever vehicle purchase completed using Tether’s USDT stablecoin.

From stablecoins to steering wheels

The car sale in question traces back to September 2025, when BitGo partnered with Toyosa, the official Toyota distributor in Bolivia, along with Tether and Towerbank, to enable vehicle purchases denominated in USDT.

The setup works like this: a Bolivian consumer pays in USDT, the transaction settles in minutes rather than the days typically required by traditional banking rails, and the dealership receives its funds through the custody and settlement infrastructure BitGo provides.

Since that initial partnership, the acceptance of USDT has expanded beyond Toyota dealerships. BYD and Yamaha dealerships in Bolivia now also accept USDT payments through similar arrangements with BitGo. That’s three major vehicle brands offering crypto checkout in a country that only lifted its ban on cryptocurrency transactions in mid-2024.

Olivares’ presentation at the summit, titled “2 years with USDT, what comes next?”, reflected on two years of stablecoin usage in the country and explored what further infrastructure is needed to push digital asset adoption deeper into everyday commerce.

What settlement speed actually changes

The headline feature of USDT vehicle payments is speed: settlements that take minutes instead of days. In traditional cross-border commerce, a dealership selling to a customer using international banking transfers might wait several business days for funds to clear. During that window, exchange rates can shift, compliance checks can stall the process, and both parties sit in limbo.

For dealerships, faster settlement means better cash flow management. For consumers, it means a purchase experience that feels more like swiping a card than wiring money internationally.

BitGo’s role in this ecosystem is specifically on the institutional side: providing the custody infrastructure and transaction processing that makes dealerships comfortable accepting a digital asset as payment.

The Bolivia Crypto Experience Summit itself is positioned as the country’s premier event for stablecoins and Web3 innovation. Its existence, and the fact that it spans two major Bolivian cities, suggests that the local crypto ecosystem has grown well beyond hobbyist territory.

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