First Bank in Bolivia Launches USDT Services

Bisa Bank, the fourth largest banking institution in Bolivia, recently launched a suite of stablecoin products to allow customers to buy, sell, and store USDT using the bank’s services. The inclusion of USDT as a dollar proxy stablecoin on the bank’s platform gives users an alternative that guarantees the safety and trust of users when managing this asset.

Bisa Bank will charge customers a fee of $5 to $15 for stablecoin purchases of between 200 and 10,000 USDT per day. USDT transfers to international accounts will cost around $40, which is an attractive option for those interested in making such payments with the support of the banking institution. Bisa Bank Vice President of Business Franco URQUIDI emphasized that these transactions will be made from and to a Bisa Bank account, meaning they are secure.

Bisa Bank’s introduction of USDT reinforces the position that the largest dollar-pegged stablecoin, which recently reached a market cap of over $120 billion, has in developing countries that lack direct access to the dollar. Bolivia has a fixed dollar exchange rate, leading to speculative attacks related to the dollar shortage. Last year, the central bank sold dollars directly to citizens to calm the local market.

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