A compliant platform has suspended Argentine Peso services, and local fiat currency operations are under review.

Source: CoinEdition Original Title: Coinbase Pauses Peso Services in Argentina as Fiat Operations Are Reviewed Original Link:

Suspension of Peso Services

• A certain compliant platform has suspended the ARS–USDC fiat on-ramp, effective from January 31, 2026, while other crypto services remain operational
• Users have a 30-day window to complete peso-based USDC transactions and withdrawals
• The platform will maintain its presence in Argentina through Base and local partnerships

A certain compliant platform has paused its peso services in Argentina, reducing its local fiat operations less than a year after entering the market. The decision affects the Argentine peso channel related to USD Coin trading, but the platform’s core crypto services remain unchanged. The company describes this move as a temporary measure, framing it as a review of local operations rather than a market exit.

Starting January 31, 2026, Argentine users will be unable to buy or sell USDC with Argentine pesos or withdraw peso balances to local bank accounts. Users have a 30-day window to complete pending peso-based USDC transactions and withdrawals.

This change only affects fiat deposit and withdrawal channels, while crypto-to-crypto trading, asset custody, and on-chain transfers remain available. The platform states that customer funds are unaffected during the transition period.

The exchange informed users that the suspension is due to internal review aimed at improving local products and returning with a more sustainable product structure. The company has not disclosed detailed reasons for the decision.

Market Conditions and Local Response

Argentina has become one of Latin America’s most active crypto markets, with industry reports indicating over 10 million active wallets. The country has attracted both domestic and international companies, with recent developments highlighting ongoing market activity. Local exchanges have launched peso-pegged stablecoins, and a regional expansion partner has completed an acquisition of a local trading platform.

Comments from regional Web3 observers point to operational challenges rather than a shift away from digital assets. Web3 commentators note that such suspensions often reflect the complexities of maintaining local fiat channels, including regulatory uncertainties, reliance on correspondent banks, and high compliance costs.

However, despite the suspension of peso services, the platform confirms that Argentine users can continue to hold, send, receive, and trade cryptocurrencies that do not involve direct fiat conversion. Looking ahead, the company plans to maintain technological presence through its Ethereum Layer 2 network and collaborate with local partners on related initiatives.