- Coinbase halted ARS–USDC fiat rails from Jan. 31, 2026, while keeping all other crypto services active.
- Users have a 30-day window to complete peso-based USDC transactions and withdrawals.
- Coinbase will maintain an Argentina presence via Base and partnerships despite the fiat pause.
Coinbase has paused peso-based services in Argentina, scaling back its local fiat operations less than a year after formally entering the market. The decision affects Argentine peso rails tied to USD Coin transactions but leaves the platform’s core crypto services unchanged, according to sources. The company described the move as temporary, framing it as a review of local operations rather than a market exit.
From Jan. 31, 2026, Coinbase users in Argentina will no longer be able to buy or sell USDC using Argentine pesos or withdraw peso balances to local bank accounts. Users have been given a 30-day window to complete pending peso-based USDC transactions and withdrawals before the cutoff date.
The change applies specifically to fiat on-ramps and off-ramps, while crypto-to-crypto trading, custody, and on-chain transfers remain available. Coinbase stated that customer funds are unaffected during the transition.
The exchange informed users that the pause follows an internal review aimed at improving its local offering and returning with a more sustainable product structure. The company did not disclose detailed reasons for the decision.
Market Situation and Local Responses
Argentina has emerged as one of Latin America’s most active crypto markets, with more than 10 million active wallets cited in industry reports. The country has attracted both domestic and international firms, and several recent developments underscore continued activity. Local exchange Ripio launched a peso-pegged stablecoin, while Nexo acquired Buenbit as part of its regional expansion strategy.
Commentary from regional Web3 observers pointed to operational challenges rather than a shift away from digital assets. Criptolawyer, a Web3 commentator, wrote on X that such pauses typically reflect the complexity of maintaining local fiat rails, including regulatory uncertainty, reliance on correspondent banks, and high compliance costs.
However, despite the halt to peso services, Coinbase confirmed that Argentine users can continue to hold, send, receive, and trade cryptocurrencies that do not involve direct fiat conversion. Looking ahead, the company plans to keep a technical presence through Base, its Ethereum layer-2 network, and to collaborate with local partners, including Ripio, on Base-related initiatives.
Related: Argentina May Reverse IMF-Linked Crypto Ban to Modernize Banking Sector
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