Coinbase and Gennius plan ONED USD stablecoin access through Latin American banks

Coinbase wants to get into Latin American banking. It is not opening branches. It is borrowing someone else’s. On October 8, 2026, Coinbase announced a partnership with fintech firm Gennius (Gennius XYZ) to bring the ONED USD stablecoin and a bundle of digital asset services to banks across Latin America. Argentina comes first. Other Latin American and Caribbean markets are planned to follow. The pitch to banks is simple. Add stablecoin payments, custody, trading and loyalty rewards to your existing app without rebuilding your tech stack. For customers, the program would let them turn eligible deposits into a dollar-pegged token, move it at any hour and spend it with a Visa card. How the ONED USD program is supposed to work ONED USD launched in mid-2026. Each token is issued 1:1 against USDC held in Coinbase custody. Under the plan, bank customers could convert eligible deposits into ONED USD. They could also convert loyalty rewards, which is the more unusual part. Points that normally sit unused in an airline or card program could become a spendable digital dollar. Once converted, the funds could be transferred instantly, around the clock. Spending would run through Visa cards iss...