Tether CEO Paolo Ardoino said USDT adoption is rising across Venezuela, Bolivia, Argentina and Turkey amid continued pressure on local currencies.

Businesses and consumers are increasingly using USDT for trade, payments, peer-to-peer transactions and value preservation. Ardoino said the growth is being driven by dollar shortages, inflation and financial restrictions in these developing markets, underscoring how stablecoins are being used for everyday financial activity rather than only trading on exchanges.

Ardoino said on Aug. 23 that USDT use is increasing in Venezuela, Argentina, Bolivia and Turkey. According to CriptoNoticias, he said businesses and individuals are turning to the stablecoin for domestic trade and cross-border payments. He linked the trend to currency devaluation, dollar shortages and financial restrictions affecting local economies.

He also said several developing economies now rely heavily on USDT for both internal and foreign commerce. Ardoino added that Tether’s financial inclusion mission has become more important as stablecoin use expands.

Venezuela offers one example of the use cases Ardoino described. Local businesses use USDT for import and export settlements, where traditional correspondent banking can create additional payment difficulties.

Venezuela and Bolivia See Commercial Use

According to data cited by the Venezuelan Chamber of Electronic Commerce, Venezuela has high per-capita digital asset adoption. The country has developed a mixed financial environment involving the bolívar, cash dollars and digital assets.

Bolivia has also seen wider USDT use since a shortage of physical dollars emerged in 2024. According to CriptoNoticias, USDT has entered commercial transactions, including fuel purchases.

The country’s Ministry of Economy and Public Finance is considering whether to integrate USDT into its payment system. The proposal would allow the stablecoin to circulate alongside the Bolivian boliviano.

State-owned and private banks have also integrated USDT into mobile applications, while peer-to-peer platforms have recorded strong growth, according to the report.

Argentina and Turkey Show Different Uses

In Argentina, USDT has become widely used in the street economy and peer-to-peer market. Users turn to the stablecoin to preserve value and convert between USDT and pesos.

USDC, meanwhile, is competing for business users that require formal tax and accounting treatment. That creates a different focus between retail and corporate stablecoin use.

Turkey has also become a market highlighted by Ardoino. Persistent inflation has encouraged people to use USDT as a way to protect purchasing power.

Across these countries, Ardoino’s comments point to specific uses tied to local currency pressure, including trade settlement, peer-to-peer transactions and protection against inflation.

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