Argentine cryptocurrency exchange Lemon launches Bitcoin-backed credit card

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.