Coinbase Halts Peso Services in Argentina as CEO Brian Armstrong Unveils 2026 Roadmap

Coinbase has suspended its fiat on- and off-ramp services in Argentina, effective January 31, 2026. Users will no longer be able to withdraw Argentine pesos to local banks after this date. The company informed users of this decision via an email shared widely on social media.

The move is described by Coinbase as a 'deliberate pause' rather than a full exit from the Argentine market. The company plans to reassess its operations and eventually return with a stronger product offering. This decision affects fiat rails but does not impact crypto-to-crypto trading functionalities.

Coinbase CEO Brian Armstrong has outlined a 2026 roadmap to transform the platform into a global financial app. The roadmap includes a focus on scaling stablecoins and expanding into traditional financial markets, such as equities and commodities. Armstrong aims to make Coinbase the number one financial app in the world.

Why Did This Happen?

Argentina is one of Latin America's most active crypto markets, driven by high inflation and tight capital controls. Coinbase entered the Argentine market in early 2025 after receiving regulatory approval from the country's National Securities Commission (CNV). Despite the challenges, Argentina has attracted both domestic and international firms due to its high crypto adoption rate.

The decision to pause fiat operations comes amid a broader review of local operations. Coinbase cited structural challenges, including unclear regulation, reliance on correspondent banks, high compliance costs, and limited transaction volumes. These challenges make it difficult to maintain local fiat rails in volatile markets.

What Are Analysts Watching Next?

Analysts are closely watching the regulatory environment in Argentina. The country's central bank is reportedly considering new rules that could allow traditional banks to trade cryptocurrencies. These rules could be ready as soon as April 2026, potentially transforming the landscape Coinbase just exited.

Coinbase plans to maintain a presence in Argentina through its Base ecosystem and local partnerships. One of its partners is Ripio, which launched a peso-pegged stablecoin called wARS in November 2025. Coinbase will continue working with local partners to support the on-chain economy.

What Does This Mean for the Market?

Argentina remains a competitive market for crypto adoption, with 19.8% of the population owning digital assets. Despite Coinbase's exit from peso operations, competitors like Nexo and Ripio are expanding their presence. Nexo recently acquired Buenbit, gaining access to over one million users in Argentina and Peru.

Coinbase's decision to maintain crypto-to-crypto trading while exiting peso operations suggests a strategic repositioning for regulatory changes. The company is also addressing community concerns about customer support and privacy issues, which have been a point of criticism in the past.

Armstrong's 2026 roadmap includes scaling the use of stablecoins like USDC for everyday payments and expanding the Base ecosystem.

The goal is to bring the world on-chain by abstracting away the complexity of wallets, keys, and gas fees. If successful, Coinbase could emerge as a dominant player in the global financial services market.

The company has also announced plans to expand into traditional financial markets, including equities and commodities. This move positions Coinbase in direct competition with platforms like Robinhood and Interactive Brokers. The company aims to offer a unified interface where users can manage all financial assets, from stocks to crypto.