The state energy company of Bolivia YBFB will use cryptocurrency to pay energy imports, according to a Reuters report.
YBFB expects the use of cryptography to be a direct solution to the nation’s shortage in American dollars and foreign exchange reserves.
The shortage comes along with a fuel crisis stimulated by the lack of natural gas exports, which had led to dispersed protests throughout the country, according to the report.
“From now on, these transactions (cryptocurrencies) will be carried out,” said a YPFB spokesman to Reuters.
This is not the first time that a state energy firm of South America moved to Crypto; In 2023, the agent YPF announced that he was moving to cryptographic mining, and last April of Venezuela PDVSA revealed that he was using cryptocurrencies to combat the oil sanctions imposed by us.
