Coinbase pauses peso deposits and withdrawals for Argentina users

In a notice to users, Coinbase outlined that accounts will no longer be funded with pesos or withdrawn to local bank accounts after the deadline. Trading between cryptocurrencies remains available, and customers can continue withdrawing crypto to external wallets.

The company described the change as a “deliberate pause” and outlined plans to “reassess and return with a stronger product.” Coinbase is not exiting Argentina and continues to work with local partners, including through its Base ecosystem.

The pullback comes less than a year after Coinbase formally entered the Argentine market in 2025, following approval from the National Securities Commission. Argentina has faced high inflation and tight capital controls. At launch, the company put daily crypto users in the country at about 5 million.

One local partner, Ripio, introduced an Argentine peso stablecoin called wARS in November 2025. Separately, the central bank is analyzing whether to allow banks to offer cryptocurrency services to account holders, with potential new rules as soon as April 2026.

The pause applies to fiat on- and off-ramps linked to the peso. Core exchange features for crypto-to-crypto transactions and crypto withdrawals remain in place while Coinbase evaluates its product for the market.

As we covered previously, Coinbase aims to build an “everything exchange” with a broader product mix beyond crypto, expand stablecoins, and grow the Base network. In December, it detailed plans to add stock and ETF trading in the main app, offer prediction markets via Kalshi, and simplify access to futures and perpetuals, moving toward a single account for crypto and traditional tools.