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      Coinbase Partners with Gennius to Launch ONED USD Stablecoin in Latin America

      Coinbase has announced a partnership with fintech firm Gennius to introduce the ONED USD stablecoin across Latin America, starting with Argentina. This initiative allows bank customers to convert eligible deposits into a USDC-backed stablecoin, which can be spent using Visa cards. The program aims to integrate stablecoin payments, custody, trading, and loyalty rewards into existing banking applications without requiring banks to overhaul their technology infrastructure.

      Launched in mid-2026, the ONED USD stablecoin is issued on a 1:1 basis against USDC held in Coinbase's custody. Customers will have the ability to convert not only their deposits but also loyalty rewards from various programs into spendable digital dollars. This conversion will enable instant transfers and spending through Visa cards issued by participating banks, enhancing customer access to digital assets.

      Gennius, founded in 2013 and restructured in 2022, will manage the program, leveraging its relationships with over 85 financial institutions and more than 520 loyalty programs worldwide. This partnership allows Coinbase to navigate the complexities of the Argentine market by collaborating with established banks that already have customer relationships, thereby avoiding the challenges faced in previous attempts to enter the local currency services market. The strategic move signifies Coinbase's intent to embed itself within traditional banking frameworks, expanding its reach beyond exchange activities.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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