IPS has 500 million USD trapped in Ueno Bank

The intervention of Ueno Bank by the Central Bank of Paraguay has left more than 3 trillion guaraníes (approximately 516 million USD) of the Social Security Institute (IPS) immobilized. This amount is divided into two blocks: 358 million USD corresponds to technical reserves for pensions and retirement, and 157 million USD to operational accounts for daily expenses. Despite the vulnerability of retirement capital, the IPS assures that it will be able to meet its commitments until December, including bonuses and salaries. The crisis originated when the bank's solvency index fell below the legal 50%, affecting around three million customers. This freeze highlights the vulnerabilities of the traditional banking system's fractional reserve model. In light of this situation, bitcoin (BTC) presents itself as an unconfiscatable safeguard, allowing individuals to maintain custody of their assets.

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