Argentinian Cryptocurrency Exchange Lemon Launches Bitcoin-Backed Visa Credit Card

Argentinian cryptocurrency exchange Lemon has launched a Bitcoin-backed Visa credit card, providing users with a new financial tool to access credit in Argentine pesos without selling their Bitcoin holdings. The initiative was reported by La Nación on January 15, 2026, and marks a significant step in the integration of digital assets into traditional financial systems.

The card allows users to deposit 0.01 Bitcoin as collateral, currently valued at over $900, to obtain a pre-assigned credit limit of 1 million pesos. This mechanism enables Argentinians to leverage their Bitcoin holdings for daily transactions without liquidating their crypto savings, a key advantage in a country where many citizens use Bitcoin as a hedge against inflation.

Marcelo Cavazzoli, Lemon's founder and CEO, stated the card was designed to eliminate the need for a credit history or traditional banking relationships. This approach caters to Argentina's large unbanked and underbanked population, offering a solution that aligns with the country's growing crypto adoption.

Why Did This Happen?

Argentina has long struggled with high inflation and currency devaluation, prompting many citizens to turn to Bitcoin as a store of value. Lemon's card taps into this demand by providing a way to access liquidity without losing Bitcoin's value. The move also reflects broader economic pressures that have pushed Argentinians toward alternative financial tools.

The product is part of Argentina's evolving crypto landscape. Chainalysis ranked the country among the world's top 15 in its 2024 Global Crypto Adoption Index, driven by factors such as capital controls, inflation, and limited access to traditional banking. Lemon has secured necessary approvals from Argentina's central bank and partnered with financial institutions for card issuance, making it a regulated yet innovative offering.

How Did Markets React?

Lemon reported strong initial interest in the product, with waiting lists forming shortly after the launch. The company is gradually rolling out the service to manage demand and ensure operational stability. Priority access is being offered to existing verified Lemon users. The product's success will depend on user adoption and its ability to retain customers through competitive terms and benefits according to market analysis.

Financial analysts note the card's potential to expand financial access in Argentina. Approximately 50% of Argentine adults lack full banking access, according to World Bank data. Lemon's product could bridge this gap by offering a credit solution that doesn't rely on traditional banking infrastructure. The card's maintenance fees are also being waived for the first three months, supported by Rootstock to encourage early adoption.

What Are Analysts Watching Next?

The next phase of Lemon's plan includes allowing users to customize collateral ratios and credit limits. The company also aims to enable stablecoin-backed payments for dollar-denominated purchases, which could further enhance the card's utility in a highly dollarized economy according to industry reports.

Regulatory developments will be key to the product's future. Argentina's National Securities Commission (CNV) has begun registering crypto service providers, but comprehensive legislation is still under development. The Central Bank of Argentina has also been considering rules that would allow banks to trade cryptocurrencies, potentially expanding the use of digital assets across the financial system.

Analysts are also monitoring the card's impact on Bitcoin liquidity in Argentina. If users prefer to collateralize their Bitcoin rather than sell it, this could reduce selling pressure and stabilize local Bitcoin markets. However, more data will be needed to determine the extent of this effect as financial experts note.

Lemon's card also raises broader questions about financial inclusion and crypto adoption in emerging markets. Other countries facing similar economic challenges, such as Turkey and Venezuela, could look to Argentina's experience as a model for integrating crypto into everyday financial systems according to industry analysis.

The product's success will also depend on how well it aligns with Argentina's economic reality. For many Argentinians, Bitcoin represents not just an investment, but a way to protect savings from inflation. If the card helps convert these savings into spending power, it could have long-term benefits for both users and the broader economy as economic research indicates.