COINTELEGRAPH · 2026-11-11 13:30 UTC

Paraguay bank collapse shows stablecoins can offer a lifeline... of sorts

Paraguay's digital lender Ueno Bank collapsed, leaving nearly three million customers, about 60% of the country's adults, unable to access their accounts. The Central Bank placed Ueno into resolution on Nov. 3 after its solvency ratio fell below half the legal minimum; the Central Bank said 93.1% of depositors had been repaid as of Nov. 9. The local guarani fell 12.3% in a week, and X4T's Eisenmann said demand for USDt and USDC as a dollar store of value rose sharply, though some sellers asked for a USDt premium of up to 13%.

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