A TechFlowPost newsletter item published on 11 November 2026, citing Cointelegraph, reported that Paraguay’s central bank took over digital bank Ueno on 3 November. Nearly 3 million customers, about 60% of adults in the country, could not access their accounts.
The central bank said Ueno’s solvency ratio had fallen below half the statutory minimum. The report said an investigation found suspicious loan operations and deficiencies in credit documentation and accounting. It also said the episode set off a political crisis: thousands of people protested in the streets, President Santiago Peña tried to resign before impeachment, and he was then arrested on charges of breach of trust and using his office for personal gain.
Local peer-to-peer crypto markets reflected the turmoil. Some sellers quoted USDt at premiums as high as 13% — a reported local selling premium, not an issuer redemption price, and not a figure about reserves or an attestation. The guaraní fell 12.3% in one week. The report said some people turned to stablecoins to hold value or keep making payments.
David Eisenmann, founder of Paraguayan crypto exchange X4T, said the takeover came at the start of the month, when salaries, rent and supplier invoices were due, and that many business owners could not pay wages. As of 9 November, the central bank said 93.1% of Ueno deposit customers had been compensated.
Source: TechFlowPost newsletter, citing Cointelegraph, published 11 November 2026.
