Lemon, Argentina’s second-largest cryptocurrency exchange, has launched the country’s first Visa credit card backed by Bitcoin. The product lets users take out loans in Argentine pesos by using their Bitcoin as collateral, without having to sell their BTC. This move is positioned as a significant step toward integrating crypto into everyday finance.
The card is designed for people who might not have access to traditional banking or a credit history. Users can make purchases by using their Bitcoin as collateral, skipping the need for a bank account or classic credit checks. The goal is to turn long-term Bitcoin savings from a purely investment-focused asset into a tool for daily spending.
In Argentina, high inflation, capital controls, and widespread distrust in the banking system have driven many toward cryptocurrencies. Bitcoin and other digital assets have become a popular store of value, and Lemon’s new Visa card aims to expand their practical use. Purchases are made in pesos, with the Bitcoin collateral held in the background, so users don’t need to liquidate their holdings.
Company officials say the product aims to boost financial inclusion and weave the crypto ecosystem into daily life. Experts suggest Bitcoin-backed credit cards could become increasingly popular as an alternative financial model, especially in countries with high inflation and limited banking access. Lemon’s launch is seen as the start of a new era for crypto-based financial products in Argentina.
*This is not investment advice.
