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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 country.

According to The Block on the 4th (local time), Coinbase notified users in Argentina 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 mean it is exiting the market. A company spokesperson told Bloomberg Línea that it is a planned temporary suspension made “as part of a strategic review to offer stronger and more sustainable products,” adding that the goal is to return in a better form after the overhaul.

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

Coinbase previously made its official entry into the Argentine market after receiving approval for registration as a Virtual Asset Service Provider (VASP) from Argentina’s National Securities Commission on January 28, 2025. At the time, Coinbase estimated that about 5 million people in Argentina use crypto on an average day, and highlighted a market strategy centered on regulatory compliance.