Coinbase pauses peso services in Argentina after brief rollout

Coinbase has suspended its local fiat operations in Argentina less than a year after entering the market.

The exchange halted peso-based on- and off-ramps while keeping crypto trading fully operational.

Users were informed the move is a temporary pause following a review of local operations.

Coinbase described the decision as a deliberate step to reassess its approach and return with a sustainable offering.

From January 31, 2026, users will no longer be able to buy or sell USDC using Argentine pesos or withdraw to local bank accounts.

Customers were given a 30-day window to complete peso-based USDC transactions and withdrawals.

Crypto-to-crypto trading, transfers and custody services remain unaffected by the change.

Coinbase said the pause does not signal a permanent exit from Argentina.

Web3 commentator Ana Gabriela Ojeda said local fiat rails often face structural hurdles.

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.

Coinbase plans to maintain its presence in Argentina through Base, its Ethereum layer-2 network.

The company will continue working with local partners, including Ripio, on Base-related initiatives.

Argentina’s central bank is reportedly considering new rules that could allow banks to trade cryptocurrencies.

Regulators previously banned banks from offering crypto services in 2022 due to financial stability concerns.

At the time of reporting, Ethereum price was $3,166.30.