Overview
- Tether CEO Paolo Ardoino said on Aug. 23 that USDT use is growing in those four countries as households and firms turn to a digital dollar when local currencies lose value and cash dollars are scarce.
- Independent data back broader adoption: Chainalysis ranked Venezuela 18th, Turkey 14th and Argentina 20th in its 2025 crypto adoption index and measured nearly $1.5 trillion of Latin American crypto activity from July 2022 through June 2025.
- Bolivia provides an unusual official signal because its central bank now publishes a USDT reference rate based on peer‑to‑peer trading and some local banks offer USDT services for commerce and cross‑border payments.
- Concrete payment signs show stablecoins moving into daily use, with crypto card spending rising to $1.04 billion in July 2026 and stablecoins powering more than 70% of roughly 10 million card transactions that month.
- Reports emphasize key risks: USDT is a private claim backed by Tether’s reserves rather than government insurance, and regulatory, exchange or wallet changes could affect availability and the token’s role in local economies.