Argentina-based crypto exchange Lemon has officially rolled out the country’s first Bitcoin-backed Visa credit card, marking a shift away from traditional crypto debit models toward collateralized credit. The product is now available to Lemon’s user base of more than 5.5 million people.
Unlike debit cards that automatically sell crypto at the point of purchase, Lemon’s new card allows users to spend Argentine pesos while keeping their Bitcoin intact.
How the Bitcoin-Backed Credit Model Works
The card is built on a Collateralized Debt Position structure. Users lock 0.01 BTC as collateral, roughly $900 to $960 at current prices, and receive an immediate credit limit of 1 million Argentine pesos. Spending is settled in local currency, while the Bitcoin remains untouched in custody.
LEMON CREDIT CARD 💳
La primera tarjeta de crédito respaldada en Bitcoin de Argentina. pic.twitter.com/RM3SDbaUEK
— Lemon Argentina (@lemonapp_ar) January 14, 2026
The design removes forced liquidation entirely. Users access short-term peso liquidity for daily expenses without selling Bitcoin, preserving full exposure to price movements. Approval is based on collateral value and account history, with no credit checks or traditional banking requirements.
Maintenance fees are waived for the first three months under a partnership with Rootstock. After that period, the card carries a monthly fee of about 7,500 pesos unless the user buys at least $150 in crypto each month.
Why Argentina Is a Natural Launch Market
Crypto adoption in Argentina continues to accelerate. As of January 2026, nearly 20% of the population, around 8.6 million people, actively uses cryptocurrency, the highest penetration rate in Latin America.
On Lemon’s platform, Bitcoin has become the most widely held asset, overtaking both stablecoin dollar proxies and the Argentine peso itself. The card effectively formalizes Bitcoin’s role as a store of value while unlocking its utility for everyday spending.
What Comes Next
Lemon plans to expand the product’s functionality in future phases. The roadmap includes customizable collateral ratios and the option to settle dollar-denominated purchases directly with stablecoins such as USDC and USDT.
The launch builds on Lemon’s earlier Visa offering from 2021, which introduced BTC cashback on purchases. This time, the focus has shifted from rewards to credit—turning Bitcoin holdings into a spending buffer without requiring users to give them up.