Bolivia is facing a severe economic crisis. The country is literally running out of dollars. Their foreign reserves have collapsed from $15 billion a decade ago to just $50 million today.
In June 2024, Bolivia legalized cryptocurrencies, and digital asset transaction volume exploded - growing over 500 percent in the past year.
To participate in the global economy, businesses are turning to stablecoins for access to dollar assets.
From Binance peer-to-peer trading to stablecoin-powered credit cards, we explore how people survive when their country runs out of dollars, and how stablecoins are being used for global spending.
00:00 - Bolivia ran out of dollars 02:06 - Stablecoins to the rescue 03:25 - How did Bolivia get here? 04:11 - Bolivia's parallel economy 06:24 - Meru 09:55 - What happens when a country runs out of dollars
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