Argentinian Crypto App Lemon Launches Bitcoin-Backed Credit Card

Argentinian cryptocurrency exchange Lemon has launched a Visa credit card collateralized by Bitcoin, local news La Nación reported Wednesday.Lemon is the second-largest crypto exchange in Argentina, serving over 5.5 million users. The new Bitcoin-backed Visa credit card allows access to financing in pesos without having to sell or convert their BTC holdings.“We created a simple way to access credit in pesos using Bitcoin as collateral, without needing a credit history,” said Marcelo Cavazzoli, founder and CEO of Lemon, in an official statement.The rollout is the first stage in the product development, with simple mechanisms and a fixed amount.#argentina #Lemon