Bolivian Attorneys Spearhead USDT Index Proposal to Energize a Dollar-Starved Economy

Bolivian attorneys Iver von Borries and Javier Romero Mendizabal proposed introducing Tether’s USDT, the largest stablecoin in the cryptocurrency market, as an index asset for commercial and civil contracts. The submission aims to link USDT’s value in global markets to the national fiat currency, allowing for more flexibility in pricing certain obligations. Bolivia has maintained a fixed dollar exchange rate since 2011, and the disparity between the official and parallel rates, along with the scarcity of physical dollars, has contributed to the paralysis of large projects in the country. Von Borries stated that using USDT and its exchange rate would help unblock these projects and reactivate the Bolivian economy.

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