Argentinian Crypto App Lemon Launches Bitcoin-Backed Credit Card

Core Insights - Argentinian cryptocurrency exchange Lemon has launched a Bitcoin-collateralized Visa credit card, allowing users to access financing in pesos without selling their BTC holdings [1][2] Group 1: Product Overview - The Bitcoin-backed Visa credit card allows users to deposit 0.01 Bitcoin (valued at over $900) as collateral to receive a credit card with a limit of $1,000,000 pesos [3] - The card is designed to hold Bitcoin as collateral without selling or converting it, emphasizing Bitcoin's value as a store of wealth [3][6] Group 2: Future Developments - In the next phase, users will have the ability to configure their own backup and credit limits, and Lemon is working on enabling dollar-denominated purchases using stablecoins like USDT and USDC [4] Group 3: User Benefits - Users will enjoy commission-free purchases of various cryptocurrencies and exclusive benefits such as early access to new features and market information [5] - The initial three months of card maintenance will be waived, with a subsequent fee waiver for users purchasing over $150 worth of cryptocurrency monthly [5] Group 4: Market Position - Bitcoin is the most held asset among Lemon users, surpassing the crypto dollar and the peso, indicating a strong preference for Bitcoin as a savings tool [6]