Argentina delays crypto in banks to 2028

Argentina's central bank has put plans to open banking and payments to crypto assets on hold. Speaking at the PULSO 2026 event, Juan Curutchet, who oversees financial and foreign exchange regulation at the Banco Central de la República Argentina (BCRA), said there will be no push to integrate cryptocurrencies and digital assets into banking and payment channels over the next two years.

Local media reported that the decision effectively postpones until 2028 the possibility of banks offering crypto services to their customers.

What stays in place

The pause keeps in force the restrictions introduced in 2022, which prevent regulated financial institutions from offering cryptocurrency services. Earlier this year there had been reports that the central bank was considering allowing domestic banks to offer such services, and several digital banks and payment apps had hoped to add them.

Why the central bank is waiting

According to the reports, the central bank pointed to the country's current economic vulnerability. Officials are said to be concerned that opening banks to crypto could add pressure to the foreign exchange market at a sensitive time. Curutchet indicated that the topic could be revisited if economic conditions improve and crypto markets become more stable, and suggested it could return to the agenda during a possible second term for President Javier Milei.

A large market outside the banks

The decision does not reflect a lack of demand. Argentina is one of Latin America's largest crypto markets, and reported trading volume exceeded 88.5 billion US dollars in the twelve months to 30 June. Much of this activity is driven by people using dollar-pegged stablecoins to protect savings from inflation and to make payments.

Because banks cannot offer these services directly, Argentine users mostly access them through specialised platforms. Some fintech companies have already separated their crypto activities from their regulated banking apps.

Banks still exploring stablecoins

Despite the pause, reports say some Argentine banks are continuing to study stablecoin projects for programmable payments and treasury management. These efforts sit outside customer-facing crypto services and could be ready when the policy changes.

How Argentines use stablecoins today

For many households, dollar-pegged tokens have become a practical alternative to buying physical dollars or opening foreign accounts. People use them to store savings, receive payments from abroad and pay for goods and services online. Freelancers working for foreign clients are a large group of users, as stablecoins can arrive quickly and avoid some of the costs of traditional transfers. This everyday use is one reason why the decision to keep banks out of the market has drawn attention: the activity continues, but outside the regulated banking channels that most people use for salaries and bills.

What it means

Argentina's choice contrasts with markets such as the European Union and the United States, where regulators are writing detailed rules that allow banks and payment firms to work with stablecoins. For Argentine consumers, little changes in the short term: crypto and stablecoins remain widely used, but outside the traditional banking system. The next policy window is likely to depend on the economy and on the country's political calendar.

What it means for ODIX Pay users

In countries where banks are slow to adopt digital dollars, people still need simple ways to move money across borders. ODIX Pay is also a money transfer app: you can send money to bank accounts in other countries and receive payments from abroad, with the exchange rate and the fee shown before you confirm, and follow each transfer until it arrives. Availability depends on your country. See how international transfers work.