Bolivia YBFB’s state energy company will use cryptocurrency to pay for energy imports, according to a Reuters report.
YBFB hopes that the use of crypto will be a direct solution to the country’s shortage in US dollars and currency reserves.
The shortage comes next to a fuel crisis stimulated by a lack of natural gas exports, which had led to demonstrations dispersed across the country, according to the report.
“From now on, these transactions (cryptocurrency) will be carried out,” a spokesperson for the YPFB told Reuters.
It is not the first time that an energy company belonging to the State of South America has passed the crypto; In 2023, the YPF of Agentina announced that it was moving into the exploitation of cryptography, and the PDVSA of Venezuela last last April, revealed that it used cryptocurrencies to combat the oil sanctions imposed in the United States.
