Paraguay’s Central Bank placed Ueno Bank into resolution on November 3, 2026, after its solvency ratio fell below half the legal minimum. The collapse left nearly three million customers unable to access their accounts, according to the source. The central bank said 93.1% of customers with Ueno deposits had been repaid as of November 9.
Crypto exchange X4T reported stronger demand for dollar-backed stablecoins, but its chief executive said some of its recent trading activity predated the collapse. A GlobalData analyst said he had not seen evidence of a mass shift from Paraguayan banks to stablecoins. Stablecoin holders do not have the same deposit guarantees as bank customers, and the tokens are not insulated from banking failures.
