Coinbase, one of the biggest crypto exchanges out there, says it’s shutting down peso-to-USDC trading and local peso operations in Argentina on January 31, 2026.
That’s a big change for how Coinbase handles business in Latin America. After this date, people in Argentina won’t be able to buy, sell, or swap Argentine pesos for USDC on Coinbase anymore.
The company let users know about the change in late December 2025. They’ll give everyone a 30-day window to finish up any conversions or withdrawals involving pesos.
Once that window closes, Argentine users can’t use pesos to get USDC or move money out to local bank accounts through Coinbase.
Still, crypto-to-crypto trading isn’t going anywhere. You can keep buying, selling, sending, or receiving digital assets as usual. Any funds you’ve got on the platform stay safe, and you’ll have access to them for everything except peso-based transactions.
Strategic Pause, Not a Full Exit
Coinbase called this a deliberate pause, not a full exit from Argentina. They’re taking a step back to review how things are going there, hoping to figure out a better way to offer their services locally. Basically, they want to come back with something more solid and sustainable down the line.
It’s not exactly easy to set up local fiat on- and off-ramps in Argentina. The country’s financial system can be a headache because of lots of volatility, complicated rules, and unclear regulations.
Plus, compliance isn’t cheap, and you have to deal with all the banking infrastructure. Those hurdles probably played a big part in Coinbase’s decision to hit pause on ARS services.
Still, Coinbase isn’t giving up on Argentina. They see it as a key part of their growth in Latin America. The company plans to stick around through its Base layer-2 network and keep working with partners like Ripio. So, even if they’re stepping back from local fiat for now, they’re betting that blockchain products and services will drive their future in the country.
More News: Klarna Group (KLAR) Partners With Coinbase for Stablecoin Funding
Market Reaction and Local Impact
People in Argentina didn’t waste any time reacting to the news. Anyone following the local crypto scene knows the country has a long history of runaway inflation and unpredictable currency swings, so it’s no surprise people turn to stablecoins and crypto instead of trusting their pesos.
For a lot of Argentines, USDC (the dollar-backed stablecoin from Coinbase) has been a lifeline to protect their money.
But now, with ARS-to-USDC trading on hold, folks have to look elsewhere to swap pesos for stablecoins.
That probably means more people moving to P2P marketplaces, using DEXes, or even hunting for other exchanges that still let them get from pesos to digital dollars.
A lot of market watchers think this shake-up could actually change the way stablecoins work in Argentina’s crypto world.
USDC has a big following because it’s seen as safe and regulated, but in day-to-day trading, Tether’s USDT is still on top, especially in informal P2P deals.
If Coinbase keeps its doors closed to Argentines, don’t be surprised to see even more people jump to USDT and other workarounds.
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