Argentina-based crypto platform Lemon has launched the country’s first Visa credit card backed by Bitcoin collateral, marking a significant step in the integration of digital assets into everyday financial services.
The product allows users to access credit in Argentine pesos without selling their Bitcoin holdings, opening new financing options for individuals without a traditional bank account or credit history.
Lemon's Bitcoin-Backed Visa Credit Card Details
According to reports, Lemon, Argentina’s second-largest cryptocurrency exchange and a digital wallet with more than 5.5 million users across the region, officially announced the launch of the Bitcoin-backed Visa credit card this week.
The initiative is designed to transform long-term Bitcoin savings into a practical financial tool for daily use.
Under the card’s initial rollout, users can deposit 0.01 BTC as collateral, currently valued at approximately $900, and receive a peso-denominated credit line with a limit of up to 1,000,000 Argentine pesos.
The deposited Bitcoin remains locked as collateral and is neither sold nor converted into local currency, allowing users to maintain exposure to BTC while accessing liquidity.
The credit card operates on a simplified system with fixed limits during its first phase, making it accessible to a broad range of users.
Lemon emphasized that no credit history or bank account is required, a feature that could appeal to Argentina’s large unbanked and underbanked population amid ongoing economic instability and inflation.
CEO's Vision for Bitcoin as a Financial Tool
“We created a simple way to access credit in pesos using Bitcoin as collateral, without needing a credit history,” said Marcelo Cavazzoli, founder and CEO of Lemon. He added that “Bitcoin is the best store of value ever created and the cornerstone of the new digital economy.”
Argentina's Growing Crypto Market
Argentina has emerged as one of Latin America’s most active crypto markets, driven by persistent inflation and currency controls.
Broader Implications for Digital Assets and Finance
Lemon’s Bitcoin-backed credit card reflects a growing trend among crypto firms to offer alternative financial products that bridge traditional payment systems with digital assets, potentially reshaping how users interact with savings and credit in volatile economies.