Argentina continues to bring digital assets closer to everyday economic activity. State-controlled energy company Yacimientos Petrolíferos Fiscales (YPF) is exploring a system that would allow customers to pay for fuel using cryptocurrencies, according to La Nación. If approved, the initiative would represent another milestone in the country’s fast-growing adoption of digital assets across both retail and institutional sectors.

Payments routed through third-party providers: Lemon, Ripio, Binance

YPF does not plan to accept cryptocurrencies directly into its own wallets. Instead, transactions would be processed through external payment gateways, with Lemon, Ripio and global exchange Binance among the considered partners.

The model mirrors the system introduced for payments in U.S. dollars: customers scan a QR code, the app displays the equivalent amount in Argentine pesos, and the payment is settled through YPF’s account at Banco Santander. The reference rate would be based on the buying prices published by Argentina’s central bank.

Crypto adoption gains momentum in Argentina

Argentina ranks 20th in the Global Crypto Adoption Index 2025, standing 18th in retail use and 19th in institutional activity. These results highlight a broader dynamic: both individuals and companies increasingly turn to cryptocurrencies as an alternative to the domestic currency, whose stability remains limited.

Adoption, however, comes with controversy. In February, the LIBRA memecoin incident sparked national debate after President Javier Milei shared a post on X that many interpreted as endorsement. The token’s market cap skyrocketed to USD 4 billion before plunging 94 % within hours. Investors lost hundreds of millions, and the opposition called for impeachment. Milei insisted he was merely “sharing information,” not promoting the token.

Economic tensions deepen

Beyond the turbulent crypto market, Argentina faces severe macroeconomic challenges. A planned USD 20 billion financial support package involving JPMorgan Chase, Bank of America and Citigroup was cancelled last month. The decision dealt a major blow to a government attempting to stabilize the economy and restore investor confidence.

Against this backdrop, cryptocurrencies increasingly feature not only as an alternative means of payment but also as part of the broader debate about the future shape of Argentina’s economy.

Sources:

https://www.lanacion.com.ar/economia/IA/ypf-analiza-convertirse-en-la-primera-petrolera-en-permitir-pagos-con-criptomonedas-nid02122025/

https://www.chainalysis.com/blog/2025-global-crypto-adoption-index/

https://www.wsj.com/finance/u-s-banks-shelve-20-billion-bailout-plan-for-argentina-add58f7e