Paraguay bank collapse shows stablecoins can offer a lifeline... of sorts
Related
Paraguay president resigns after collapse of Ueno digital bank
Santiago Peña stepped down amid mounting scrutiny over his former ties to Ueno Bank’s parent company, as the lender’s collapse left millions of customers unable to access their funds.
Bitcoin Fixes This? Paraguay President Resigns After Bank Lockout Hits 60% of Country
Ueno’s collapse trapped millions of Paraguayan depositors and triggered a president’s resignation, reviving Bitcoin’s argument for self-custody.
Stablecoins can drain from banks and nations at lightning speed
Highly liquid and settling 24/7, stablecoins can leave banks and countries at lightning speed. But whether stablecoins are a risk — or an opportunity — depends on your perspective.
Americans Would Use Stablecoins—If They Came With Bank Protections, Visa Study Finds
A Visa survey found U.S. willingness to use stablecoins for cross-border transfers rises from 36% to 56% when paired with hypothetical bank-level fraud protection and deposit insurance.
Bank of England set for new innovation mandate covering stablecoins
The UK plans to expand the Bank of England’s remit to support digital payments innovation, including stablecoins, while keeping financial stability first.
Paraguay Protests Over Bank Lockout Intensify as Impeachment Vote Nears
Savers locked out of Ueno Bank burned their cards, booed a former presidential candidate out of the crowd, and watched Congress move to remove President Peña.