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 this deadline, traders will no longer be able to withdraw pesos to local banks or on-ramp with fiat.
The company described the move as a “deliberate pause” and said it plans to reassess and eventually return with a stronger product offering. Crypto-to-crypto trading functionalities remain unaffected, the company said.
Argentina was one of Coinbase’s top expansion efforts in 2025 following the firm’s receipt of regulatory approval from the country’s National Securities Commission (CNV).
High inflation and tight capital controls have made the country one of Latin America’s most active crypto markets, with Coinbase at the time saying 5 million Argentines used crypto daily.
Despite the rollback, Coinbase says it is not leaving Argentina and will work on a stronger product, according to Forbes Argentina. It also works with local partners through the Base ecosystem. One of these partners is local crypto exchange Ripio, which last November launched an Argentinian peso stablecoin called wars
Argentina’s central bank is reportedly analyzing allowing banks to offer cryptocurrency services to account holders. New rules for these institutions may be ready as early as April.
