Coinbase Global announced that it will suspend peso‑to‑USDC trading and local bank withdrawals in Argentina effective January 31, 2026, while keeping crypto‑to‑crypto trading active. The pause is described as a deliberate, temporary step back from local fiat services rather than a full market exit.
The company entered the Argentine market in January 2025 after receiving regulatory approval, targeting a country with high crypto adoption driven by persistent inflation and currency controls. Coinbase cited a combination of high inflation, rapid currency devaluation, regulatory uncertainty, and the cost of maintaining correspondent banking relationships as key reasons for the pause. A high‑profile meme‑coin scandal involving the national government earlier in 2025 also contributed to a shaken public confidence in the sector.
While the pause will reduce local transaction volume and fee revenue, Coinbase has not disclosed specific financial figures for Argentina. The company indicated that it will maintain its presence through its Base blockchain network and partnerships with local firms such as Ripio, and it plans to resume local fiat services once the review is complete.
A Coinbase spokesperson said, “We have decided to temporarily step back from operating our local services in the market.” The company added that “Argentina remains a strategically important market for crypto innovation, and we fully intend to return with an improved customer experience.” Coinbase also emphasized that Latin America remains a central region for its expansion plans.
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