Argentina’s crypto sector has taken a significant step towards integrating digital assets into everyday finance. Lemon, the country’s second-largest crypto exchange, has launched the first Visa credit card in Argentina backed directly by Bitcoin collateral. The initiative aims to convert long-term Bitcoin savings into a practical credit tool without requiring users to exit their crypto positions.
The new Visa credit card enables users to obtain peso-denominated credit while retaining their Bitcoin holdings intact. The structure follows a simple model in its initial phase. Users deposit 0.01 Bitcoin as collateral, currently valued near $900. In return, they receive a credit card with a spending limit of up to one million pesos.
The Bitcoin remains locked as a guarantee and is not converted into pesos or sold at any point. This approach removes exposure to forced liquidation while giving access to traditional credit functions. The card operates without requiring a bank account or a formal credit history, a significant shift in a market where many remain underserved by banks.
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Lemon Wallet Surpasses 5.5 Million Users
Lemon’s virtual wallet already serves more than 5.5 million users across the region. The company positions this product as a bridge between savings behavior and daily consumption. Bitcoin, widely held by its user base, now plays a functional role beyond long-term storage.
Lemon considers this release a starting point, not the result. In future releases, the user will be able to set the levels of their collaterals and credit limits according to their preferences. This could help the credit limits match the individual’s Bitcoins.
The company is looking into options for dollar-denominated spending. The upcoming features will enable users to pay for card bills in digital dollars through the use of stablecoins such as USDC or USDT. The move will enable users to circumvent the peso fluctuations while still enjoying the convenience of spending.
Crypto Credit Card Offers Premium User Benefits
The credit card offers a set of benefits. It provides commission-free crypto purchases in over 30 assets, but it is limited to buying only. It also provides early access to new application features, direct support through Telegram, and a newsletter that focuses on portfolio-oriented news.
For the first quarter, Rootstock, the protocol behind Bitcoin applications, will cover the cost of card maintenance. After that, there will be a monthly bill of approximately 7,500 pesos. A subsidy will be provided to users who purchase more than $150 worth of cryptocurrency in a month.
Lemon also highlighted other features that this platform offers. Users can use Bitcoin starting at a cost of just 100 pesos, transfer their own Bitcoin to this platform, or work on other networks such as Lightning, Rootstock, and BNB Chain. Users can also earn Bitcoin by making everyday purchases through a QR code system or using a Visa Lemon Card.
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