According to a report by 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 without selling their crypto assets. Users can obtain an initial credit line of 1 million pesos by locking up just 0.01 Bitcoin (approximately $960) as collateral. Lemon plans to expand the product's functionality in the future, allowing users to adjust the collateral and credit line, and eventually settle dollar-denominated purchases directly using stablecoins pegged to the US dollar, such as USDC or USDT.
Argentine cryptocurrency exchange Lemon launches Bitcoin-backed credit card
This article is machine translated
Show original
Sector:
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content
