Lemon Launches Argentina’s First Bitcoin-Backed Credit Card

Lemon, a major Argentine crypto exchange, has introduced the country's inaugural Bitcoin-backed Visa credit card, enabling users to access Argentine peso financing without liquidating their Bitcoin savings. To secure an initial credit limit of 1 million pesos, customers must lock up 0.01 BTC (approximately $960) as collateral. This move taps into Argentines' historical distrust of banks, stemming from repeated devaluations and the 2001 "corralito" freeze, which encourages holding wealth in U.S. dollars outside the formal system. Lemon's product effectively converts Bitcoin holdings into spending power while bypassing the need to sell crypto or hard currency. The launch occurs amid deepening crypto integration in Latin American finance, where centralized exchanges have seen significant growth in flows, providing Lemon with a user base already comfortable with digital assets.

(Source：Cointelegraph)