Coinbase drops peso-based services in Argentina less than a year after market entry

Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Coinbase drops peso-based services in Argentina less than a year after market entry The move is deemed a "deliberate pause" and not a full exit, with Coinbase planning to reassess and return with a stronger product. By Francisco Rodrigues , AI Boost | Edited by Jamie Crawley Jan 5, 2026, 12:21 p.m. Coinbase app (appshunter.io/Unsplash/Modified by CoinDesk) What to know : Coinbase is suspending its fiat on- and off-ramp services in Argentina, effective January 31, 2026. Users will no longer be able to withdraw pesos to local banks from then on. The move is deemed a "deliberate pause" and not a full exit, with Coinbase planning to reassess and return with a stronger product. Crypto-to-crypto trading will remain unaffected on the exchange, with cryptoasset withdrawals operational. Coinbase (COIN) is pulling back some of its operations in Argentina, less than a year after formally entering the country’s crypto market. The U.S.-based exchange informed users via an email shared widely on social media that it will suspend the ability to buy or sell the USDC stablecoin using Argentine pesos, effective Jan. 31, 2026. After that deadline, traders will no longer be able to withdraw pesos to local banks or on-ramp with fiat. STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . The company described the move as a “deliberate pause,” saying 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 headline 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, where, at the time, Coinbase said 5 million Argentinians used crypto daily. Despite the rollback, Coinbase says it isn’t leaving Argentina and will be working on a stronger product, according to Forbes Argentina . It's also working with local partners through the Base ecosystem. One of those partners is local crypto exchange Ripio, which in November last year launched an Argentine 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 could be ready as soon as April. Coinbase Argentina Fiat Currency AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market By CoinDesk Research Dec 22, 2025 Commissioned by KuCoin KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market. What to know : KuCoin recorded over $1.25 trillion in total trading volume in 2025 , equivalent to an average of roughly $114 billion per month , marking its strongest year on record. This performance translated into an all-time high share of centralised exchange volume , as KuCoin’s activity expanded faster than aggregate CEX volumes , which slowed during periods of lower market volatility. Spot and derivatives volumes were evenly split , each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line. Altcoins accounted for the majority of trading activity , reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover. Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity , indicating structurally higher user engagement rather than short-lived volume spikes. View Full Report More For You Iran accepts cryptocurrency as payment for advanced weapons By Jamie Crawley | Edited by Sheldon Reback Jan 2, 2026 Prospective customers could purchase weapons such as missiles, tanks and drones using crypto, according to a government website. What to know : Iran's Ministry of Defence Export Center is accepting cryptocurrency payments for advanced weapons systems as a means of bypassing international sanctions that the country faces. 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