Ueno Digital Bank Crisis Leaves 3 Million Customers Locked Out

Paraguay has been thrown into political and financial turmoil after President Santiago Peña announced his resignation following the collapse of Ueno Digital Bank, a major digital lender that left nearly three million customers unable to access their accounts. The banking crisis has triggered public protests, criminal investigations, and renewed debate about the risks of keeping money within traditional financial institutions. Peña announced his departure on November 5, shortly before lawmakers advanced impeachment proceedings against him. The lower house subsequently approved the impeachment motion unanimously, sending the case to the Senate. The collapse has become one of Paraguay’s most significant financial scandals, raising questions about regulatory oversight, political connections, and the protection of ordinary depositors.

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