Coinbase has announced a temporary pause on its ARS-based USDC on/off ramp services in Argentina, less than a year after entering the market. The move is described as an intentional restructuring step to return to a more sustainable service model. During the wind-down, roughly 30 days, Argentine users will be unable to convert pesos into USDC or move funds via local bank accounts, though cryptocurrency trading remains available.
The company emphasizes that this is not a permanent exit and that local services could resume once regulatory and operating conditions improve. Coinbase says it will provide users with a wind-down window and will monitor developments that might enable a future reintroduction of fiat rails in Argentina.
This shift occurs amid broader regulatory discussions in the country, including considerations by the central bank about allowing traditional banks to participate in crypto trading. It underscores the evolving landscape for fiat rails and how global exchanges are adapting to regulatory changes while maintaining crypto markets in a transitional phase.
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