Coinbase has partnered with fintech company Gennius to integrate the ONED USD stablecoin into banking services across Latin America. The initiative will launch in Argentina, with plans to expand into other Caribbean and Latin American markets.
The program allows bank customers to convert deposits and loyalty program rewards into ONED USD, a token launched in mid-2026. Each token is backed 1:1 by USDC held in Coinbase custody, enabling instant transfers and payments via Visa cards issued by participating banks.
Gennius will act as the program manager, connecting bank systems with Coinbase infrastructure. This setup allows financial institutions to offer digital asset services without requiring a complete overhaul of their existing technology stacks.
Gennius currently collaborates with more than 85 financial institutions and operates over 520 loyalty programs globally. By leveraging these existing relationships, Coinbase aims to integrate its services into traditional banking infrastructure rather than building consumer-facing operations from scratch.
