Gennius and Coinbase Launch Regulated Digital Dollar Services for Latin American Banks

Gennius and Coinbase are launching regulated digital-dollar and digital asset services for financial institutions in Latin America, beginning with a live rollout in Argentina. This partnership allows traditional banks to integrate stablecoin payments and tokenized deposits into their existing apps, addressing the massive regional demand for dollar-pegged assets while retaining customer relationships.

What was announced

The partnership introduces ONED USD, a digital dollar issued through Coinbase's Custom Stablecoins program. The asset is built on the Base network and is backed 1:1 by USDC held in Coinbase custody. This infrastructure allows bank customers to convert their existing deposits and loyalty rewards into digital dollars, which can then be held or spent via an instantly issued Visa card. This card is accepted at more than 175 million merchant locations globally, allowing users to move value 24/7 at near-zero marginal cost.

The service is designed to be brand-agnostic, allowing banks to offer digital asset custody, trading, and stablecoin payments under their own labels without replacing their existing technology. Gennius manages the end-to-end orchestration, integrating with an institution’s existing core banking and compliance systems. This setup facilitates local-currency on and off ramps that settle around the clock, moving value at the speed of digital money. The rollout begins in Argentina, targeting a market where stablecoin purchases already account for more than half of all exchange activity in the Argentine peso, Brazilian real, and Colombian peso markets. The partners plan to extend the model to additional markets across the region following the initial launch. Gennius currently reaches 85 financial institutions across Latin American and Caribbean markets through its 529 connected programs.

"Banks should not have to move to a completely new technology platform to support digital assets for their clients. We built Gennius to bring together all of the pieces, tokenization, card issuance, rewards, compliance and liquidity, so they don't have to."

Sergio Arana, Founder & President, Gennius.

The companies involved

Gennius is a payments and tokenization platform that functions as a Program Manager for banks and loyalty programs. The company maintains a significant footprint in the Latin American and Caribbean markets, with 85 connected financial institutions and more than 529 connected programs involving tokenized value. Its technology is designed to integrate directly with core banking systems, card issuing, and compliance workflows, supporting both Visa and Mastercard networks. This allows institutions to adopt digital asset capabilities without replacing their legacy technology stacks.

Coinbase provides the regulated digital asset infrastructure essential to the partnership, including custody, exchange services, and the issuance of custom stablecoins. As a major player in the global digital asset market, Coinbase has recently focused on expanding its institutional infrastructure and derivatives offerings. The company’s Base network, a Layer 2 solution, serves as the technical foundation for the new ONED USD digital dollar. By acting as the underlying liquidity and custody provider, Coinbase enables traditional banks to offer crypto-adjacent services while maintaining the regulatory standards expected by institutional clients.

What FF News has reported before

FF News has closely tracked Coinbase’s evolution into a comprehensive infrastructure provider. We recently covered how Coinbase Unveils Global Exchange with Deribit Integration and Rebirth of Coinbase Pro, signaling a push toward more sophisticated trading tools. This was followed by reports that Coinbase to Unify US and Global Crypto Derivatives in Historic Regulated Liquidity Pool, further cementing its role in regulated market liquidity.

Our coverage has also highlighted the growing utility of the Base network, such as when Aave V4 Launches Equities Hub on Base, allowing users to borrow USDC against tokenized stocks. These developments align with our findings in Crypto Adoption Set to Surge in 2026 as Knowledge Gap Narrows, which noted a significant shift toward mainstream digital asset engagement.

What this means

This announcement represents a strategic counter-offensive by traditional financial institutions against the encroachment of unregulated crypto exchanges in Latin America. In markets like Argentina, where local currency volatility drives consumers toward stablecoins, banks have historically been sidelined. By embedding digital dollars directly into the core banking experience, institutions can recapture deposits and transaction fees that were previously lost to the "shadow" crypto economy. This move puts significant pressure on regional crypto-only wallets to justify their value proposition beyond simple asset access. It also signals that the future of stablecoin adoption in emerging markets may lie in hybrid models that combine blockchain efficiency with the regulatory oversight of established banks.