The president of the Central Bank of Bolivia praised cryptocurrencies as an alternative payment solution, with stablecoins serving as a proxy for the dollar

ChainCatcher news, Bolivia's Central Bank President Edwin Rojas Ulo mentioned the recent change in the institution's stance on cryptocurrencies and stablecoins. Rojas Ulo stated that he believes adding cryptocurrencies to the national financial system could be a beneficial alternative, and stablecoins like USDT, which are pegged to the dollar, provide different advantages for users who cannot access dollars.

Rojas Ulo stated that using stablecoins "is like conducting transactions in North American currency, even though what people are doing is operating with these digital assets."