Coinbase has suspended peso-based on- and off-ramps in Argentina less than a year after entering the market, while keeping all crypto trading services active.
The exchange confirmed it has paused local fiat operations as part of an internal review of its Argentine business.
The decision affects transactions involving Argentine pesos, particularly the ability to buy or sell USDC using ARS.
From 31 January 2026, users will no longer be able to convert pesos to USDC or withdraw funds to local bank accounts.
Coinbase notified customers that they have a 30-day window to complete peso-based USDC transactions and withdrawals before services end.
The company described the move as a deliberate pause intended to reassess its approach and return with a more sustainable offering.
Coinbase stressed that customer funds remain safe and unaffected by the change.
Crypto-to-crypto trading, transfers, and custody services continue to operate without interruption.
The exchange said the pause should not be interpreted as a permanent exit from Argentina.
Forbes Argentina reported that the decision follows a review of local operational conditions and market viability.
It is not a signal against crypto or against stablecoins, but rather a demonstration of the structural challenges of integrating local financial systems in volatile markets.
Ana Gabriela Ojeda said.
Ojeda pointed to regulatory uncertainty, reliance on correspondent banks, high compliance costs, and limited transaction volumes as common pressures.
Despite halting fiat rails, Coinbase plans to maintain a presence in Argentina through its Ethereum (CRYPTO:ETH) layer-2 network, Base.
The company is expected to continue working with local partners, including crypto exchange Ripio, on Base-related initiatives.
Coinbase formally launched in Argentina in early 2025 after a year of preparation and market analysis.
The pause comes as Argentina’s central bank reportedly considers allowing traditional banks to trade cryptocurrencies.
The Banco Central de la República Argentina is drafting potential rules that could permit banks to engage directly with digital assets.
Any regulatory change would mark a reversal from 2022, when banks were banned from offering crypto services due to systemic risk concerns.
At the time of reporting, Ethereum price was $3,135.11.