Stablecoin USDT gains traction in Venezuela, Argentina, Bolivia, and Turkey as businesses and individuals seek dollar alternatives.
Tether CEO Paolo Ardoino reported rising USDT adoption in developing nations facing currency devaluation and dollar shortages. The stablecoin is used for domestic and cross-border trade, acting as a digital dollar and store of value.
In Venezuela, USDT facilitates import and export settlements, while Bolivia sees it in commercial transactions. Argentina’s peer-to-peer market and Turkey’s inflation hedging drive demand. Local financial restrictions further accelerate adoption.
The trend reflects broader reliance on stablecoins in economies with volatile currencies or limited access to traditional banking.