State-Linked Giant Energy Company Approved the Use of Cryptocurrency: They Will Start Soon! - Coin Bulletin

Bolivia is preparing to use cryptocurrency to facilitate payments in energy imports.

Bolivia's state-controlled energy company YPFB has announced that it will start using cryptocurrencies to finance energy imports in the near future. According to Reuters, a YPFB spokesperson confirmed that the government has approved the use of cryptocurrency for energy imports and the necessary infrastructure has been developed for this process. The company stated that although it has not yet made an actual payment, the system will be activated soon.

This move with cryptocurrencies is expected to bring flexibility to the Bolivian economy. The country aims to speed up payment processes and reduce costs through this method. Bolivia, which will carry the advantages offered by cryptocurrencies to the energy sector, also aims to open a new page in international trade.

Bolivia's move in the energy sector serves as an interesting example, especially for other countries facing challenges in financing energy imports. YPFB has not yet disclosed which cryptocurrencies it will use, but it is speculated that Bitcoin (BTC) or stablecoins could be preferred.

Bolivia, which has the opportunity to carry out transactions in international trade more cost-effectively and quickly with the use of cryptocurrency, is expected to strengthen its regional influence economically with these steps.