Bitcoin and USDT attract modest premiums in Paraguay as millions face banking crisis
Paraguay’s banking crisis and a roughly 10% rise in the dollar against the guaraní coincided with increased local interest in Bitcoin and currency alternatives. Binance P2P data showed Bitcoin trading at an indicative premium of about 1.7%, while USDT briefly traded around 4% above the central bank’s dollar reference rate. The central bank placed Ueno Bank into resolution after its solvency ratio fell below half the legal minimum, disrupting access to deposits for a lender serving nearly 3 million people and raising concerns over public-sector funds. Deposit-guarantee payments have begun for eligible customers. Crypto executives cited the crisis as evidence for decentralized alternatives, though whether local crypto activity remains elevated will depend on the restoration of depositor access and confidence.
