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

Suehyeon Lee

Summary

Coinbase said it has decided to end peso-based services in Argentina in January 2026.
The decision includes the suspension of trading between USDC and pesos and restrictions on withdrawals to local bank accounts.
Coinbase said it will continue to support crypto-to-crypto trading and aims to return after reorganizing the service.

U.S. cryptocurrency exchange Coinbase has decided to temporarily suspend peso-based services in Argentina about a year after entering the market.

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

Coinbase said the move does not mean it is withdrawing from the business. A company representative told Bloomberg Línea that it was a "planned temporary suspension carried out as part of a reassessment of strategy to offer stronger and more sustainable products," and that "the goal is to return in a better form after restructuring."

However, unlike peso-based services, trading between cryptocurrencies will continue to be supported. Exchanges between cryptocurrencies such as Bitcoin will remain in place, and the company said there is no direct impact on customer assets.

Earlier, on January 28, 2025, Coinbase officially entered the local market after receiving approval for registration as a Virtual Asset Service Provider (VASP) from Argentina's National Securities Commission. At the time, Coinbase estimated that about 5 million people on average used virtual assets daily in Argentina and emphasized a market strategy focused on regulatory compliance.