Argentine state-owned energy giant weighs crypto payments for fuel: Report

YPF — Argentina’s state-controlled energy behemoth — is reportedly exploring letting drivers pay for gas and diesel with crypto. This isn't just talk; it’s a serious move as digital assets gain real-world traction across the country. The plan? Use third-party processors like Lemon, Ripio, or Binance to handle conversions — no direct wallet payments. La Nación broke the story, citing insiders.

This comes just two months after YPF started accepting US dollar payments at its stations — a first for Argentina’s fuel chains. Economy Minister Luis Caputo’s push for hard currency circulation aims to stabilize transactions and restore confidence in the peso. If crypto gets the green light, the system would mirror the dollar setup: scan a QR code, transfer funds to YPF’s Banco Santander account, with the app showing the peso equivalent based on Banco Nación’s buying rates.

Argentina sits at 20th in the 2025 Global Crypto Adoption Index. Retail centralized-services rank 18th, institutional at 19th — showing both everyday users and big players are diving in. But it’s not all smooth sailing. Remember the Libra memecoin scandal? President Javier Milei endorsed it on X, sending its market cap to $4 billion before it crashed 94% hours later, wiping out hundreds of millions. Opposition called for impeachment; Milei claimed he just “spread the word,” not promoted it.

In a major blow to Argentina’s dire economy, a planned $20 billion rescue involving JPMorgan Chase, Bank of America, and Citigroup was shelved last month. The Wall Street Journal reports lenders are now discussing a $5 billion repo-style loan instead. Under this, Argentina would post assets to secure dollars for a looming $4 billion January debt payment, then refinance in bond markets to repay the banks.