- The Argentinian bitcoin exchange Lemon Cash has launched a Visa card that offers 2% cashback in BTC for every purchase.
- Users can use the international card to purchase everyday items from any merchant that accepts Visa.
- Lemon automatically converts the necessary amount of cryptocurrency in the user’s account into Argentine pesos to complete the payment.
Argentina-based bitcoin exchange Lemon Cash has launched a bitcoin card in collaboration with Visa that offers 2% cash back in BTC for every purchase, reported Bloomberg Linea. The offer is the first card of its kind to combine pesos, the national fiat currency, with cryptocurrency in Argentina, and allows users to make regular purchases with their cryptocurrency holdings.
âThe visa aligns with our plans to do things in Argentina and we could make it an international card, which has both digital and physical use,â said Marcelo Cavazzoli, CEO of Lemon. Bloomberg Linea.
Lemon will deliver 100,000 cards on launch day to users who were on the waiting list, Cavazzoli said, adding that his company’s mission is to “fill Argentina with bitcoin and bring people into this world. which is the future “. Making sure that the 2% cashback on every purchase is paid in BTC is key to achieving this goal, he said.
âWe want people to save in bitcoin,â Cavazzoli said. âWe hacked into traditional finance by making crypto part of everyday life. We are going to be the bridge between the traditional system and cryptocurrencies. “
Adults in Argentina can apply for and use the card after opening an account with Lemon Cash. The purchase of everyday consumer items will be made possible through an instant conversion of any cryptocurrency in the user’s account into pesos at the time of purchase. The 2% bitcoin cashback is then credited to the user and automatically added to their Lemon Earn savings account.