Argentinian state-owned enterprises consider accepting cryptocurrency payments for fuel

Source: Exame
Original Title: Argentine state-owned company considers accepting crypto for fuel
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YPF Considers Accepting Cryptocurrency Payments

The Argentine government-controlled energy company Yacimientos Petrolíferos Fiscales (YPF) is reportedly considering allowing drivers to pay for gasoline and diesel with cryptocurrency. As crypto assets become increasingly integrated into everyday transactions in the country, this move reflects further adoption of crypto payments.

The plan may rely on third-party payment processors, rather than direct wallet payments, including local and international platforms such as Lemon, Ripio, or a leading exchange to handle conversions.

This review comes two months after YPF began accepting US dollar payments. YPF became the country’s first fuel network to price and process sales in dollars. This policy stems from a broader initiative by Economy Minister Luis Caputo to promote the circulation of strong currencies, aiming to stabilize transactions and restore confidence in the Argentine peso.

If adopted, the system would replicate the mechanism already used by YPF for US dollar purchases. Customers would scan a QR code to transfer funds to YPF’s account at Santander Bank, with the app displaying the peso equivalent and a reference exchange rate based on Banco Nación’s purchase price.

Argentina’s Crypto Adoption Ranking Rises

Argentina ranks 20th in the 2025 Global Crypto Adoption Index. The country ranks 18th in retail centralized services and 19th in institutional centralized services, indicating growing adoption by both everyday users and large entities compared to its peers.

However, despite the growing adoption rate, the country has also faced controversy over the Libra cryptocurrency scandal. In February, President Javier Milei shared a post on X supporting the memecoin Libra, which quickly reached a market cap of $4 billion before plummeting 94% within hours.

This move caused investors to lose hundreds of millions of dollars and led opposition members to call for Milei’s impeachment. However, Milei claimed he was merely “disclosing” the token, not promoting it.

$20 Billion Rescue Plan Stalls

In a major blow to the country’s fragile economic situation, a $20 billion Argentine rescue plan involving JPMorgan, Bank of America, and Citigroup was canceled last month.

According to The Wall Street Journal, instead of a broad rescue package that included a $20 billion US Treasury currency swap and a bank-led parallel line of credit, creditors are now discussing a $5 billion repo loan. Under this proposal, Argentina would use assets as collateral to obtain US dollars, pay off $4 billion in debt due in January, and then refinance through the bond market to repay the banks.