Lemon launches Bitcoin-backed credit card in cash-hoarding Argentina

Crypto exchange Lemon has launched a Bitcoin-backed Visa credit card in Argentina, letting users lock up BTC as collateral to access peso credit lines without selling their coins.

Lemon, one of Argentina’s largest crypto exchanges, has launched what it describes as the country’s first Bitcoin-backed Visa credit card, offering users Argentine peso financing without forcing them to liquidate their BTC savings. 

According to La Nación, a leading Argentine daily newspaper, customers must lock up 0.01 Bitcoin (BTC) as collateral (around $960 at current prices) to obtain an initial credit limit of 1 million pesos, with the BTC held as an immobilized guarantee rather than being sold or converted to fiat. 

Lemon plans to expand the product so that users can adjust collateral and credit limits over time and eventually settle dollar-denominated purchases directly in dollar-pegged stablecoins such as USDC (USDC) or Tether (USDT).

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