Nexo has launched the Nexo Card in Argentina, giving eligible clients access to a crypto debit-and-credit card that supports spending, borrowing and rewards in one app.
The company announced the rollout on July 8 alongside the appointment of Andres Ondarra as General Manager of Nexo Argentina.
The launch expands Nexo’s local push in one of Latin America’s most active digital-asset markets. Buenos Aires will be the regional base for Latin America and will host infrastructure and sports connections and have a team of staff to serve clients throughout the region.
Nexo Card arrives in Argentina
The Nexo Card lets users spend digital assets in debit mode or borrow against their holdings in credit mode without selling them. The two modes sit inside one interface, allowing clients to switch between direct spending and crypto-backed borrowing.
According to the company, eligible users in Argentina can apply for the card through the Nexo app and website. The launch also extends Nexo’s broader product stack, which includes buying, exchanging, borrowing and earning on digital assets through a single account.
Nexo presents the card as a tool for people who already hold digital assets and want to use them in daily life. That focus moves the product beyond basic trading, as it connects crypto holdings with payments, credit and account rewards.
The company also said products and rates may depend on location, loyalty tier and other conditions. Nexo’s terms state that some services, features or digital assets may not be available in certain regions.
Spending, borrowing and rewards
The card supports payments in Argentine pesos at home with no currency conversion, according to Nexo. It also lets clients spend U.S. dollars at more than 100 million merchants worldwide.
For borrowing, Nexo said users can spend against their crypto holdings from 1.9 percent per year. The company describes the product as the only crypto credit card of its kind in Argentina, while also allowing debit-mode spending from digital assets.
New clients can receive 10 percent back on their first swipe, along with added cashback and milestone rewards worth up to $450 over their first three months. Nexo also said users may earn up to 13 percent annual interest on idle in-app balances, paid daily.
Moreover, the card also offers a monthly limit of $1,000 in fee-free ATM withdrawals and a monthly limit of $2,000 in spending in foreign currency. Other privileges consist of card freezes, spending limits, biometric locks, airport lounge access, quick track security and rebates on selected subscription services.
Ondarra takes over Argentina operations
The launch comes with a leadership change. Andres Ondarra will lead Nexo Argentina from August 1, bringing more than 25 years of experience across traditional finance, fintech and crypto in Latin America.
Ondarra said the product fits how many Argentines already use digital assets. He said the card gives users “the freedom to live on that wealth, not just hold it,” referring to the ability to spend, borrow and earn without selling crypto holdings.
Ondarra succeeds Federico Ogue, who led Nexo’s Argentine expansion and is moving to a new business venture.
“Argentina has one of the most sophisticated crypto and fintech ecosystems in the region, and the work Nexo has done here is something to be proud of. I look forward to passing the baton to Andres, who brings exactly the experience and vision to lead Nexo’s next stage of growth in Argentina,” Ogue said.
The leadership change also follows Nexo’s earlier regional expansion. Reuters reported in December that Nexo agreed to acquire Argentina-based crypto trading platform Buenbit as part of a broader Latin America strategy covering Argentina, Peru and Mexico.
Argentina’s crypto use shapes the rollout
Argentina received approximately $93.9 billion, or USD 939 million, in digital-asset transactions during the past three years, ranking it second in Latin America behind Brazil, said Nexo. That level of activity leads to the demand for normal uses of cryptocurrencies, such as spending, borrowing and earning from cryptocurrency holdings, the company said.
Argentina has been a major market for cryptocurrency services for decades due to the local population’s preference to save in cryptocurrencies and access tools tied to dollars. While inflation has subsided from earlier triple digit highs, Argentines turned to digital currencies during years of high inflation.
Meanwhile, the Nexo Card also arrives as crypto payment products expand across Latin America. As previously reported, MoneyGram and the Stellar Development Foundation renewed a multi-year partnership to expand stablecoin-based services, with MoneyGram’s stablecoin balance feature already live in Colombia and El Salvador.
Elsewhere, as previously reported, X Money began rolling out to U.S. Premium+ users with a neobanking model, instant transfers and a Visa debit card. That rollout showed how finance, payments and rewards are moving into platforms that already hold user attention.
Furthermore, regulated payment models are also gaining attention. Sui and Remi introduced bank-issued stablecoin payment infrastructure for regulated financial workflows, with a focus on faster cross-border settlement and compliance controls.
