Minoil Uses USDT for Payments to Suppliers in Bolivia

The Bolivian company Minoil is using the stablecoin USDT to pay its international suppliers, managing over one million dollars a month in remittances abroad. This adoption responds to the need to maintain the operational logistics of the distributor, which directly supplies more than 9,500 points of sale and reaches over 47,000 establishments monthly through 73 commercial routes. Minoil converts its funds from Bolivianos to USDT through the Colombian fintech EFY Finance, allowing it to make international transfers. However, operating outside traditional banking involves costs and operational variables, such as the impact of the exchange rate when acquiring USDT and platform fees. The adoption of USDT is driven by the scarcity of physical dollars and the devaluation of the Boliviano. Additionally, local financial entities like Banco Unión and Banco FIE have established partnerships with processors to offer the sale of USDT. From July 2024 to July 2025, Bolivia mobilized over 14.8 billion dollars in crypto assets, with brands like Toyota and Yamaha accepting payments in USDT.

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