- Coinbase will stop peso-based USDC buying, selling, and bank withdrawals in Argentina starting January 31, 2026.
- The decision follows an internal review and is described as a strategic pause, not a full exit from Argentina.
- Crypto transfers stay active, and Coinbase will continue Base network initiatives with local partners.
Coinbase will pause its local fiat services in Argentina after a short operating period. On December 31, 2025, the exchange notified users that peso-based services will stop. From January 31, 2026, users cannot buy or sell USDC with pesos, while crypto transfers remain available. The decision followed an internal review of local performance.
Peso-Based Services Set to End
According to Coinbase, the change affects only local fiat rails in Argentina. Notably, users will lose access to buying or selling USDC using Argentine pesos. Withdrawals to local bank accounts will also stop after the cutoff date. Coinbase provided users a 30-day window to complete peso-based USDC transactions.
However, crypto functionality will continue without interruption. Users can still send, receive, buy, and sell digital assets on the platform. Coinbase also stated that customer funds remain unaffected by the pause. This clarification aimed to address user concerns following the announcement.
Internal Review Drives Strategic Pause
Coinbase said the move followed a review of its Argentine operations. The company described the decision as a deliberate pause rather than a market exit. According to company spokespeople, the pause allows reassessment and operational adjustments. Coinbase formally launched in Argentina in January 2025 after preparations throughout 2024.
Forbes Argentina first reported details of the user notice and timeline. Meanwhile, Coinbase reiterated that Argentina remains strategically relevant. The company said it plans to return with a stronger and more sustainable offering. Latin America, it added, continues to play a central role in its broader mission.
Market Context and Ongoing Presence
Despite halting fiat services, Coinbase will maintain activity through Base, its Ethereum layer-2 network. According to Forbes Argentina, the company will continue Base-related initiatives with local partners, including Ripio.
This maintains Coinbase’s technical presence in the country. Meanwhile, other crypto firms have expanded locally. CriptoNoticias reported that Ripio launched a peso-backed stablecoin. Nexo also acquired the Buenbit exchange as part of its regional strategy.
Similarly, Ana Gabriela Ojeda said on X that complex regulation and banking dependencies often complicate local fiat operations. Also, Argentina’s central bank is considering allowing banks to trade crypto. The Banco Central de la República Argentina is drafting rules, though timelines remain unclear.