Coinbase suspends Argentina peso-based services… “USDC trading to end in January 2026”

U.S. cryptocurrency exchange Coinbase has decided to temporarily suspend services based on the Argentine peso, the local currency, about a year after entering the country.

According to The Block on the 4th (local time), Coinbase notified users in Argentina that it will “end trading between pesos and USDC starting January 31, 2026.” After that date, the ability to buy or sell USDC with Argentine pesos or withdraw funds to local bank accounts will be suspended. Users will have about 30 days to complete peso-based transactions before the service ends.

Coinbase said the move does not mean it is exiting the business. A company representative told Bloomberg Línea that it is a planned temporary suspension “made as part of a strategic review to deliver stronger and more sustainable products,” adding that “the goal is to return in a better form after the retooling.”

Unlike the peso-based service, crypto-to-crypto trading will continue to be supported. Exchanges between cryptocurrencies such as Bitcoin will remain unchanged, and the company said there will be no direct impact on customer assets.

Previously, on January 28, 2025, Coinbase officially entered the local market after receiving approval to register as a Virtual Asset Service Provider (VASP) from Argentina’s National Securities Commission. At the time, Coinbase estimated that about 5 million people in Argentina use virtual assets on average each day, and stressed a market-entry strategy centered on regulatory compliance.