Argentinian cryptocurrency exchange Lemon launches Bitcoin-backed credit card

According to Cointelegraph, the Argentine cryptocurrency exchange Lemon has launched a Bitcoin-backed Visa credit card, allowing users to lock Bitcoin as collateral to obtain credit in pesos without having to sell their crypto assets.

Users only need to lock 0.01 Bitcoin (approximately $960) as collateral to receive an initial credit limit of 1 million pesos. Lemon plans to expand the product's features in the future, allowing users to adjust collateral and credit limits, and ultimately settle dollar-denominated purchases directly using stablecoins pegged to the dollar, such as USDC or USDT.