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Summary
- Coinbase said it will temporarily suspend peso-based services in Argentina starting January 31, 2026, about a year after entering the market.
- Coinbase said the move is not a business exit, and that it is reviewing its strategy with the aim of returning with stronger, more sustainable products.
- While peso-based services will be halted, crypto-to-crypto trading in assets such as Bitcoin will continue, and the company said there will be no direct impact on customer assets.
Coinbase, a U.S. crypto exchange, has decided to temporarily suspend services based on Argentina’s local currency, the peso, about a year after entering the market.
According to The Block on the 4th (local time), Coinbase notified Argentine users that it will “end transactions between the peso and USDC starting January 31, 2026.” After that date, users will no longer be able to buy or sell USDC with Argentine pesos or withdraw funds to local bank accounts. Users will have about 30 days to wrap up peso-based transactions before the service ends.
Coinbase said the move does not amount to an exit from the business. A company spokesperson told Bloomberg Línea that it is a “planned temporary suspension” carried out as part of a strategic review aimed at offering “stronger and more sustainable products,” adding that the goal is to return in a better form after the overhaul.
Unlike peso-based services, crypto-to-crypto trading will continue. Exchanges between cryptocurrencies such as Bitcoin will remain available, 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 crypto on an average day and highlighted a market-entry strategy centered on regulatory compliance.
