Bottom-up Adoption: USDT Surges as Unit of Account in Bolivia 🇧🇴
Bolivia is witnessing a significant shift in its financial landscape as more retailers begin pricing items in USDT, a dollar-pegged stablecoin. This development marks an adoption milestone amid economic unrest caused by a shortage of dollars and gas. Paolo Ardoino, CEO of Tether, shared images depicting this new trend.
As a result of these shortages, stablecoins like USDT are becoming increasingly popular in Bolivia. The move to use USDT reflects a bottom-up adoption approach, highlighting the potential of cryptocurrencies in addressing economic challenges in regions with currency and resource scarcity.