Summary
- Argentina’s Lemon said it has officially launched a Bitcoin-collateralized Visa credit card.
- The card allows users to obtain cash liquidity by posting bitcoin as collateral and taking out an Argentine peso loan.
- Lemon said it excludes forced liquidation and is issued based only on collateral value and account history, without credit-score checks.
Lemon, an Argentine virtual-asset exchange, has introduced a credit card that lets users spend local currency without selling bitcoin.
On the 15th (local time), Lemon said it had officially launched Argentina’s first “Bitcoin-collateralized Visa credit card” for its 5.5 million users.
The card works by pledging bitcoin as collateral and borrowing Argentine pesos to spend. Users can secure cash liquidity while keeping their bitcoin holdings intact. For example, if a user deposits 0.01 BTC as collateral, a credit limit of 1 million Argentine pesos is created immediately.
Lemon said the card “completely excludes forced liquidation,” adding that it can be issued based solely on collateral value and account history, without credit-score checks or complex bank screening.
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