Coinbase and global fintech firm Gennius are pursuing a bank-distributed service for Gennius’ ONED USD stablecoin across Latin America, beginning in Argentina. The initiative would let customers convert eligible bank deposits and loyalty rewards into ONED USD, transfer funds around the clock and make payments through Visa. ONED USD launched in mid-2026 and is issued 1:1 against USDC held in Coinbase custody. A prior account said Coinbase announced the partnership on October 8, 2026, while the latest report describes the service as being pursued. Gennius would connect participating banks’ systems with Coinbase’s issuance and custody infrastructure, allowing banks to add stablecoin payments, custody, trading and rewards without replacing core technology. The companies plan to use existing bank relationships, compliance processes and local-currency payment rails, with expansion to other Latin American and Caribbean markets planned after Argentina.