Coinbase to Pause USDC-Peso Trading in Argentina Starting January 2026

Coinbase has suspended peso-based USDC on- and off-ramps in Argentina less than a year after launching local operations. The company will stop accepting Argentine peso deposits and withdrawals for USDC starting January 31, 2026.

The decision follows a review of Coinbase's local operations and is described as a "deliberate pause" aimed at refining the company's approach before relaunching with a more sustainable model. According to company statements, the move is part of an ongoing review of its local strategy.

Crypto-to-crypto trading remains fully operational for Argentine users. Customers can still buy, sell, send, and receive digital assets, and Coinbase has emphasized that the pause does not imply a permanent exit from the country. The company has given users a 30-day window to complete peso-based USDC transactions and withdrawals before the cutoff.

Why Did This Happen?

Coinbase informed users that the move is part of an ongoing review of its local strategy, with the aim of improving long-term sustainability. The company has given users a 30-day window to complete peso-based USDC transactions and withdrawals before the cutoff. According to company reports, the pause is part of a strategic reassessment.

Industry observers have pointed to structural challenges in integrating local financial systems in volatile markets. These include unclear regulations, high compliance costs, and reliance on correspondent banks. These challenges have been widely cited as key barriers to sustainable operations.

How Did Markets Respond?

Argentina had been seen as a key growth market for crypto firms due to high inflation and economic uncertainty, which have driven widespread crypto adoption. A Coinbase study from 2025 found that 87% of Argentines viewed cryptocurrency as a path to financial independence.

Despite the suspension of fiat operations, Coinbase remains active in the country through its Base, an Ethereum layer-2 network. The firm also plans to continue working with local partners, such as crypto exchange Ripio, on Base-related initiatives. According to industry analysis, the company is maintaining its presence through alternative digital asset platforms.

What Are Analysts Watching Next?

Analysts are closely monitoring whether this pause will lead to broader regulatory changes in Argentina. The central bank is reportedly considering rules that would allow traditional banks to offer crypto trading and custody services, potentially approved around April 2026. The central bank's review is expected to impact the broader financial landscape.

The move also aligns with Coinbase's broader 2026 strategy to expand beyond crypto into equities, commodities, and prediction markets. CEO Brian Armstrong has emphasized a global "everything exchange" approach.

Investors are also watching how Coinbase navigates other global markets. After the pause in Argentina, the company has been expanding in other regions and verticals, including its Deribit acquisition and USDC partnerships. According to market reports, Coinbase is strategically diversifying its international footprint.