Banco Bisa, one of Bolivia's largest banks, has launched a crypto custody service, becoming the first regulated financial institution in the country to do so. This service exclusively supports Tether (USDT) and allows customers to buy, sell, and transfer cryptocurrency directly through their bank accounts. The initiative comes amid economic challenges, including a recent spike in inflation, which has led to increased demand for U.S. dollars. The new service facilitates the transfer of funds abroad and aids people in paying relatives studying overseas. Banco Bisa conducts a rigorous verification process for its clients to ensure secure transactions. The crypto custody service has a minimum transaction of 200 USDT, with a daily limit of 10,000 USDT, and fees vary between 35 and 100 bolivianos. Despite the service, Bolivia remains relatively quiet in overall crypto adoption compared to its regional neighbors like Brazil and Argentina.

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