Bitcoin and USDT traded at premiums in Paraguay’s peer-to-peer markets after Ueno Bank’s collapse disrupted access to deposits for nearly 3 million customers. The dollar gained 10.2% against the guaraní, rising from 5,900 to 6,500 guaraníes between October 30 and November 5. On November 6, Bitcoin’s indicative buying price stood at 498 million guaraníes, or approximately $76,982.53, a premium of about 1.7% over the international price, while USDT carried a median premium of roughly 4% on November 5. Paraguay’s central bank initiated proceedings against Ueno Bank and began paying eligible deposits of up to 10 million guaraníes through the deposit-guarantee framework, as crypto executives promoted Bitcoin as an alternative to traditional banking.
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