Chilean fintech firm Vita Wallet has achieved a significant milestone by becoming the first international company authorized to operate with crypto assets in Bolivia. This approval comes under the country's new fintech regulatory framework, positioning the company at the forefront of financial innovation in the region. The move signals a new era for digital finance in Bolivia, fostering a more structured and secure environment for technological advancements.
A New Regulatory Landscape in Bolivia
The authorization was granted under Supreme Decree No. 5384, a new regulation approved in May 2025 and overseen by the financial authority, ASFI. This legal framework is designed to formally integrate Financial Technology Companies as Complementary Services within the national financial system. It provides a clear pathway for companies operating in areas like digital wallets, payments, blockchain, and crypto assets to achieve legal standing.
Vita Wallet's Strategic Milestone
Securing this authorization was the result of a dedicated, months-long collaboration between Vita Wallet's Legal & Compliance team and Bolivian regulatory bodies. This achievement provides the company with the legal clearance to operate freely between fiat currency and the crypto world. It serves as a crucial preliminary step toward obtaining a definitive operational license in the country.
Damián Azócar, Head of Legal & Expansion at Vita Wallet, hailed the development as a victory for both the company and its Bolivian user base. "We are here to stay and to build the financial ecosystem that Bolivians deserve," he stated, emphasizing a long-term commitment. This authorization reinforces the company's dedication to providing legally sound and reliable financial services to the local market.
Enhancing Financial Services for Bolivian Businesses
A key immediate benefit for users will be the upcoming integration of the Bolivian currency (BOB) for deposits directly on the Vita Wallet platform. This new functionality is designed to significantly enhance the user experience for both individuals and corporate clients. It will streamline financial operations and provide greater flexibility in managing funds within the platform.
For businesses, this feature promises to reduce operational friction and improve capital management agility within the national financial system. By enabling direct deposits in the local currency, Vita Wallet acts as a vital bridge connecting the traditional economy with digital financial opportunities. This integration is expected to strengthen daily operations for companies seeking international expansion and efficient treasury management.
Regional Expansion and Future Outlook
Founded in 2019, Vita Wallet has established a strong presence across Latin America, currently operating in six countries including Chile, Colombia, and Mexico. The company serves over 300,000 users and facilitates international transfers to more than 50 destinations, often five times faster than traditional banking. It projects a transactional volume of approximately $2 billion by the end of 2026.
This regulatory approval in Bolivia is a cornerstone of Vita Wallet's regional expansion strategy and its vision for a more accessible financial landscape. The company views Bolivia as a potential technology hub in South America, reinforcing its mission to democratize access to global financial services. This move solidifies its role as a key player in the region's fintech evolution.
Vita Wallet's authorization marks a pivotal moment for Bolivia's financial sector, underscoring the country's commitment to modernization through a clear regulatory framework. For the Chilean fintech, it solidifies its regional leadership and deepens its commitment to providing secure, efficient, and legally compliant digital financial solutions. This development paves the way for increased innovation and financial inclusion, benefiting businesses and consumers across Bolivia.