Paraguay’s President Santiago Peña has resigned following the collapse of Ueno digital bank, which left millions of customers unable to access their funds. The bank’s failure has raised serious concerns over financial stability and governance in the country.
According to CoinTelegraph, Peña stepped down amid scrutiny over his previous connections to Ueno Bank’s parent company. The president’s ties to the lender intensified public and political pressure after the digital bank’s sudden collapse.
This incident highlights the broader risks in digital banking sectors, a topic of keen interest for Japanese investors and regulators who are increasingly cautious about the stability of fintech and crypto-related financial institutions.