ChainCatcher news, according to Bitcoin.com News, Bolivia's fourth-largest bank, Bisa Bank, has announced the launch of a stablecoin service package, becoming the first bank in the country to offer USDT trading services. The bank allows customers to buy and sell within a daily trading limit of 200 to 10,000 USDT, with fees ranging from 5 to 15 USD, and international transfer fees of about 40 USD.Yvette Espinoza, the president of Bolivia's banking regulatory authority ASFI, expressed support for this, believing that the service will provide users with a secure and reliable asset management solution. Franco Urquidi, the bank's vice president of business, emphasized that all transactions must be conducted through the bank's accounts, and customers must complete a strict identity verification process.

ChainCatcher news, according to Cryptoslate, based on a report from the Central Bank of Bolivia (BCB), since Bolivia lifted its ban on Bitcoin in June, the country's virtual asset trading volume has more than doubled in the past three months.From July to September, the average monthly trading volume surged to $15.6 million, compared to $7.6 million in the first half of the year. This significant increase brought the total trading volume for the quarter to $46.8 million, surpassing the levels of the previous six months. The number of virtual asset transactions also grew by 141%, rising from 932,000 transactions in the same period to 1,123,000 transactions. This growth reflects an increasing acceptance of virtual assets among financial institutions and individual users.Since the issuance of Resolution No. 082/2024 on June 25, the trading volume of virtual assets has skyrocketed, allowing the purchase and sale of virtual assets using electronic payment methods, with stablecoins accounting for the majority of the transactions.

ChainCatcher news, according to Bitcoin.com, the President of the Central Bank of Bolivia, Edwin Rojas Ulo, mentioned the institution's recent shift in attitude towards cryptocurrencies and stablecoins. Rojas Ulo reportedly stated that he believes incorporating cryptocurrencies into the national financial system could bring benefits as an alternative solution, and discussed the role of stablecoins as a substitute for the dollar.Rojas Ulo stated that the decentralization of crypto assets "will benefit commercial and private activities for purchasing services, and of course, it can meet different needs." However, he acknowledged that certain assets like Bitcoin can be used as investment tools to gain returns, but their volatility may be detrimental to users. Additionally, he mentioned that stablecoins like USDT, which are pegged to the dollar, provide different advantages for users who cannot access dollars.However, the Central Bank of Bolivia emphasized that the only officially accepted currency in the country is the Boliviano, and Bolivians are not obligated to accept cryptocurrencies as a means of payment. Similarly, the bank warned that the risks associated with using and selling cryptocurrencies must be borne by their holders.

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."

ChainCatcher news, Bolivia lifts the ban on Bitcoin and cryptocurrency payments, officially legalizing them for financial entities.