Original sourceDeFi Prime
Summary
Coinbase and Gennius announced on October 9, 2026 that they will bring ONED USD to Latin American banks, starting with Argentina. ONED USD is a stablecoin 1:1 backed by USDC, aiming to let users make stablecoin payments, custody, and trading within banking apps. By design, eligible bank deposits ca…
Key points
- Highlights the practical and regulatory issues of bank-integrated stablecoins around redemption rights, balance ownership, and disclosure.
- Embedding stablecoins into banking apps will directly reach ordinary depositors, making the definition of redemption rights and legal claims crucial.
- Latin American users need to understand the change in legal status after deposits convert to stablecoins; businesses need to clarify the division of responsibility between issuer and custodian to meet regulatory expectations.
- ONED USD was first launched by Gennius on June 15, 2026, with Coinbase later joining deployment and cross-partner integration.
Editorial note
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