TLDR
- Nexo launched its crypto card in Argentina for spending digital assets and collateralized borrowing options.
- Eligible users can switch between debit and credit modes through one Nexo Card interface.
- Andres Ondarra will oversee Nexo Argentina operations as General Manager starting on Aug. 1.
- Buenos Aires serves as Nexo’s Latin America hub as the company expands locally.
- The card offers cashback on eligible purchases and interest on idle in-app balances.
Nexo has launched the Nexo Card in Argentina, giving eligible users access to a crypto card designed for spending and borrowing through one product. The digital asset platform said the card allows customers to use their holdings in debit mode or access credit without selling their crypto. The rollout places Argentina among the markets where Nexo is expanding services linked to payments, collateralized borrowing, and balance earnings.
The Nexo Card allows users to move between debit and credit modes through one interface, according to the company’s announcement. In debit mode, users can spend digital assets for eligible purchases, while credit mode allows them to borrow against holdings used as collateral. Nexo said the card also includes cashback on eligible transactions and interest on idle balances held inside the app.
The launch is aimed at users seeking wider utility for digital assets in everyday financial activity. Nexo described Argentina as one of its key growth markets, with Buenos Aires serving as its regional hub for Latin America. The company said the card supports payments, borrowing, and yield generation without requiring customers to liquidate crypto holdings.
Debit and Credit Modes in One Product
The card’s two-mode structure is central to Nexo’s product offering in Argentina. Users who select debit mode can spend crypto assets directly, subject to eligibility and platform conditions. Those using credit mode can borrow against digital assets, which allows continued exposure to their holdings while accessing liquidity.
Nexo said cashback applies to eligible purchases made through the card, while idle in-app balances may earn interest. The company’s broader offering also includes yields on USD-denominated stablecoins such as USDT and USDC, according to the supplied information. Credit lines are available in Argentine pesos and U.S. dollars, giving users access to borrowing options in both local and dollar-based terms.
The product enters a market where stablecoins and crypto services are widely used by some consumers for savings, payments, and access to dollar-linked assets. Nexo’s card combines several functions that are often handled separately across exchange accounts, lending products, and payment tools. The company’s stated objective is to make digital assets more usable for payment and borrowing needs in Argentina.
Argentina Operations and Regional Strategy
The card launch coincides with the appointment of Andres Ondarra as General Manager of Nexo Argentina. Ondarra has more than 25 years of experience across traditional finance, fintech, and crypto, according to the company. He will oversee Nexo’s operations in the country starting Aug. 1.
Nexo’s Argentina strategy also follows its acquisition of local crypto exchange Buenbit, which formed part of its local market entry. The company has described Buenos Aires as its Latin America regional hub, reflecting its focus on Argentina as an operating base. Nexo has also promoted user onboarding through loyalty-tier access for qualifying new customers.
The company has paired its financial product rollout with a regional sports partnership involving the Argentine Football Association. Nexo announced that it became the association’s Official Regional Digital Asset Partner, adding a brand component to its Argentina expansion. With the Nexo Card now available, the company is positioning its Argentina offering around crypto spending, collateralized borrowing, and account-based earnings.
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