In a move to bridge cryptocurrency with everyday finance, Lemon, a digital wallet serving more than 5.5 million customers across the region, has unveiled Argentina’s inaugural credit card secured by Bitcoin. This product allows users to secure peso-based loans without relying on traditional banking systems or undergoing credit checks, marking a significant shift in how Argentines can access credit amid economic volatility.
The card’s mechanism is seemingly straightforward. Participants lock in a small amount of Bitcoin—specifically 0.01 BTC, valued at roughly $900—as a guarantee.
This collateral remains untouched and unsold, staying in the user’s possession while unlocking a predetermined credit ceiling of 1,000,000 pesos.
Lemon’s co-founder and CEO, Marcelo Cavazzoli, emphasized the simplicity:
“We’ve developed an easy method for obtaining peso credit using Bitcoin as security, eliminating the need for any prior borrowing record.”
He further highlighted Bitcoin’s role, describing it as “the ultimate asset for preserving value throughout history and a cornerstone of the emerging online economy.”
Designed primarily for those who view Bitcoin as a long-term investment, the card enables holders to tap into funds for routine spending without liquidating their crypto assets.
This approach turns Bitcoin from a passive saving tool into an active financial instrument, helping users navigate daily expenses while safeguarding their holdings against inflation or market dips.
Key perks include zero-fee transactions when buying digital currencies, Bitcoin, Ethereum, and over 30 other cryptocurrencies—though this applies solely to acquisitions, not trades or disposals.
Cardholders also gain priority entry to upcoming features in the Lemon app, dedicated assistance through Telegram channels, and a curated email bulletin offering insights into market trends alongside personalized profit-and-loss reports for their portfolios.
Lemon plans to enhance flexibility by letting users adjust their collateral amounts and corresponding credit caps.
Additionally, upcoming phases will introduce options for expenditures in dollars through stablecoins such as USDC or USDT, expanding its utility in a dollar-dependent economy.
Integrated into Lemon’s ecosystem, the card complements existing services. Users can acquire Bitcoin starting from just $100 through standard bank transfers (CBU or CVU), or deposit it via efficient networks like Lightning, Rootstock, or BNB Chain.
Everyday payments in pesos are facilitated through QR codes or the associated Visa-enabled Lemon Card, with the added incentive of earning Bitcoin rewards on purchases.
Notably, Bitcoin ranks as the top-held asset on the platform, surpassing even dollar-pegged cryptos and fiat currencies, underscoring its popularity among Lemon’s user base.
Accessing the card is said to be hassle-free: There are no banking ties or credit evaluations are required; simply transfer the Bitcoin collateral via the app’s exchange feature, which supports inflows from external wallets.
Initial maintenance is complimentary for the first three months, courtesy of a partnership with Rootstock.
Thereafter, a modest fee of about 7,500 pesos per month applies, but it’s waived for those who purchase at least $150 worth of cryptocurrencies monthly.
This launch comes at a pivotal time for Argentina’s fintech sector, where economic challenges have driven widespread crypto adoption.
By democratizing credit through blockchain technology, Lemon is not only empowering underserved individuals but also fostering a more inclusive financial ecosystem. As digital assets continue to evolve, initiatives like this could redefine borrowing norms, making credit more accessible.