Argentina’s state-controlled oil giant YPF is exploring the idea of accepting cryptocurrency payments for fuel purchases across its nationwide network of gas stations.
The company is reportedly in early discussions with digital asset platforms as it evaluates how crypto could fit into everyday retail transactions.
According to sources familiar with the talks, YPF is considering partnerships with third-party processors such as Lemon, Ripio, or Binance to manage conversions and settlement. Local outlet La Nación reported that the company is currently assessing the technical infrastructure needed to support crypto payments at scale.
The move follows YPF’s decision just two months ago to begin accepting U.S. dollar payments, a first for an Argentine fuel chain. That policy, introduced by Economy Minister Luis Caputo, aimed to boost hard currency circulation and reduce friction caused by persistent peso volatility.
If implemented, crypto payments would likely follow the same structure used for dollar transactions today. Customers would scan a QR code and transfer funds to YPF’s Banco Santander account, while payment apps would display peso equivalents using Banco Nación buying rates.
The user experience would stay familiar, even if the underlying rails change.
Crypto adoption in Argentina continues to grow. The country ranked 20th globally in the 2025 Chainalysis Crypto Adoption Index. Its retail and institutional centralized-services rankings at 18 and 19 show that both individuals and large organizations are increasingly using digital assets.
That momentum has not come without setbacks. In February, President Javier Milei sparked controversy after publicly endorsing the Libra meme coin. The token briefly surged to a $4 billion market cap before collapsing by 94% within hours, wiping out hundreds of millions in value and fueling calls for impeachment from opposition lawmakers.
Argentina’s broader financial picture remains fragile. A proposed $20 billion rescue package involving JPMorgan, Bank of America, and Citigroup was shelved last month, according to The Wall Street Journal. Discussions have since shifted to a smaller $5 billion repo-style loan that would require Argentina to post assets to meet a $4 billion January debt payment.
YPF has not confirmed a launch timeline or specified which cryptocurrencies it might accept. Still, the exploration alone signals a practical shift. Crypto is no longer just a hedge or a trading tool in Argentina. It is increasingly being evaluated as payment infrastructure for the real economy.
