Coinbase exchange announced it will cease peso-to-USDC transactions in Argentina effective January 31, 2026. The exchange made this decision eleven months after receiving authorization to operate in the country.
On December 31, 2025, Coinbase informed its users in Argentina that they would no longer be able to deposit pesos or convert them into the USDC stablecoin.
Users were instructed to withdraw their remaining balances or modify their finances prior to the deadline. Despite this prohibition, Argentine accounts remain capable of sending and receiving crypto.
Coinbase commenced operations in Argentina in January 2025 upon obtaining a Virtual Asset Service Provider (VASP) registration from the National Securities Commission (CNV).
This registration enables the provision of regulated cryptocurrency services. Fewer than 12 months later, the company decided to cease peso trading following a thorough analysis of the local market.
This action is regarded as a tactical suspension rather than a complete withdrawal from the Argentine market. Matías Alberti, a fintech executive with experience at Buenbit and Clara, was appointed to run Coinbase’s activities in Argentina at its inception.
Argentina has witnessed significant crypto utilization, particularly during periods of elevated inflation and financial constraints. A significant number of individuals in Argentina utilize digital assets for savings and transactions, with approximately five million users engaging with cryptocurrencies daily.
