ChainCatcher reports that, according to Cointelegraph, Argentine cryptocurrency exchange Lemon has launched a Bitcoin-collateralized Visa credit card, allowing users to lock up Bitcoin as collateral to obtain peso credit lines without having to sell their crypto assets.
Users can obtain an initial credit line of 1 million pesos by simply locking up 0.01 Bitcoin (approximately $960) as collateral. Lemon plans to expand the product's functionality in the future, allowing users to adjust collateral and credit lines, and eventually settle dollar-denominated purchases directly using stablecoins pegged to the US dollar, such as USDC or USDT.
