Argentinian Crypto App Lemon Launches Bitcoin-Backed Credit Card [Yahoo! Finance]
Visa Inc. (V)
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Source: Yahoo! Finance
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. Per the exchange website, the user deposits 0.01 bitcoin as collateral – currently over $900 in value – and gets a credit card in pesos with a pre-assigned limit of $1,000,000. This way, Bitcoin is only held as collateral, and is neither sold nor converted. “Bitcoin is the best store of value created in the history of humanity and the fundamental piece for the new digital economy,” Cavazzoli added. Further, in the next phase of the project, users will be able to configur
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Sec Filings
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- 1/5/26 - Form 4
- V's page on the SEC website