Paraguay is facing a serious financial and political crisis after Ueno Bank, a fast-growing digital lender claiming about three million customers and roughly $850 million in public funds, was seized by regulators. The bank fell below legal solvency requirements, leading to frozen accounts, protests, criminal investigations, upheaval at the central bank, and an impeachment battle involving President Santiago Peña. Authorities say deposits are protected up to ₲228.3 million, or about $37,000, per depositor per institution. Bitcoin may provide a partial alternative through self-custody, which gives holders access to their funds without a bank’s permission, but its use requires banking access to buy it, internet connectivity, technical expertise, and secure wallet management.
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