According to Cointelegraph, Argentina's cryptocurrency exchange Lemon has launched a Visa credit card backed by Bitcoin collateral, allowing users to lock their Bitcoin as collateral to access Argentine peso credit lines without selling their crypto assets. Users only need to lock 0.01 Bitcoin (approximately $960) as collateral to receive an initial credit line of 1 million pesos. Lemon plans to expand the product's functionality in the future, enabling users to adjust their collateral and credit lines, and eventually settle USD-denominated purchases directly using USD-pegged stablecoins such as USDC or USDT.
Argentine Crypto Exchange Lemon Launches Bitcoin-Collateral Visa Credit Card
TechFlowShare
Summary
Argentine cryptocurrency exchange news: Lemon has launched a Visa credit card that allows users to lock Bitcoin as collateral to access credit lines in Argentine pesos. Users can obtain 1 million pesos by locking 0.01 BTC. The exchange plans to introduce features such as adjustable collateral and stablecoin settlement. A recent hacking incident at a competing exchange has increased demand for secure, crypto-backed financial tools.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.