Coinbase (COIN) is withdrawing some of its operations in Argentina, less than a year after formally entering the country’s crypto market.
The US-based exchange informed users via an email widely shared on social media that it will suspend the ability to buy or sell the USDC stablecoin using Argentine pesos, effective January 31, 2026. After that deadline, traders will no longer be able to withdraw pesos to local banks or access trust funds.
The company described the move as a “deliberate pause” and said it plans to reassess and eventually return with a more robust product offering. Crypto-to-crypto trading functionalities are not affected, the company said.
Argentina was one of Coinbase’s main expansion efforts in 2025, after the company received regulatory approval from the country’s National Securities Commission (CNV).
High inflation and strict capital controls have made the country one of the most active cryptocurrency markets in Latin America, where, at the time, Coinbase said 5 million Argentines used cryptocurrencies daily.
Despite the setback, Coinbase says it will not leave Argentina and will work on a stronger product, according to Forbes Argentina. It is also working with local partners through the Base ecosystem. One of those partners is local cryptocurrency exchange Ripio, which in November last year launched an Argentine peso stablecoin called wARS.
Argentina’s central bank is reportedly considering allowing banks to offer cryptocurrency services to account holders. New rules for these institutions could be ready in April.
