Bolivia's New President to Implement Blockchain for Anti-Corruption and Crypto Reserves

Bolivia's incoming president, Rodrigo Paz, who defeated rival Jorge Quiroga with 54.5% of the vote in a runoff election, is set to take office on November 8, 2025. Facing an economy strained by fuel shortages and a U.S. dollar squeeze, Paz's centrist, pro-market agenda includes ambitious plans to use blockchain technology and smart contracts to bring transparency to public procurement, preventing manipulation of state contracts.

Another key proposal allows citizens to declare cryptocurrency assets as part of a new foreign-exchange stabilization fund, aimed at diversifying Bolivia's reserves without adopting Bitcoin as legal tender. This pragmatic approach treats crypto as a financial tool to broaden the state's reserve base and create a framework for legal digital holdings.

The initiatives build on Bolivia's growing crypto adoption, which began in June 2024 when the Central Bank lifted its ban on crypto transactions, authorizing regulated trading. Since then, Banco Bisa launched USDT custody for institutions, and major brands like Toyota and Yamaha began accepting stablecoins. The state oil firm YPFB explored crypto payments for imports, and monthly digital asset trading volumes doubled, reaching $46.8 million per month and $294 million year-to-date by June 30, 2024.

Bolivia also signed a memorandum with El Salvador in July 2024, calling crypto a "reliable alternative" for modernizing payments and boosting financial inclusion. If successful, Paz's blockchain agenda could position Bolivia as a model for emerging economies using digital infrastructure to restore public trust and stability.