Lemon, one of Argentina’s largest crypto exchanges, has introduced what it calls the country’s first Bitcoin-backed Visa credit card. The product allows users to lock Bitcoin as collateral to access peso-denominated credit lines, avoiding the need to liquidate crypto holdings to fund spending.
The launch reflects Argentina’s long-standing distrust of traditional banking, shaped by repeated devaluations and the 2001 deposit freeze. Large amounts of household wealth remain held in cash dollars or alternative assets. By using Bitcoin as collateral, Lemon aims to convert a popular savings vehicle into usable credit within the local payments system.
The card also highlights the growing role of crypto infrastructure across Latin America. As exchange usage expands beyond trading into payments, lending, and remittances, Bitcoin-collateralized credit is becoming more integrated with everyday financial activity, particularly in economies facing inflation and currency instability.
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