Nexo has launched the Nexo Card in Argentina, offering eligible users a dual-mode solution for spending digital assets or borrowing against them without selling holdings. The launch comes after Nexo's strategic acquisition of local exchange Buenbit to establish a compliant foothold in the country. According to recent reports, the card supports both debit mode for direct spending and credit mode for borrowing against crypto collateral, with the product available through Nexo's app and website for eligible clients in Argentina. The Nexo Card regional hub in Buenos Aires went live on March 5, 2026, positioning Argentina as a key market for the platform's Latin American expansion. The launch coincides with Nexo's appointment of Andres Ondarra as General Manager of Nexo Argentina, effective from August 1, bringing more than 25 years of experience across traditional finance, fintech and crypto in Latin America, including Wall Street investment banking. Ondarra succeeds Federico Ogue, who led Nexo's Argentina expansion and is moving to a new venture, with Ogue noting that Argentina has one of the most sophisticated crypto and fintech ecosystems in the region.
The card offers significantly improved financial features compared to previous offerings. Users can now earn annual yields of up to 13% on USD-denominated stablecoins like USDT and USDC, representing a substantial increase from previous cashback rates. The product supports purchases in Argentine pesos and U.S. dollars, provides cashback on eligible spending with historically up to 2% rates, and offers interest on idle in-app balances. The card includes fee-free ATM withdrawals up to $1,000 and fee-free foreign-currency spending up to $2,000 each month. Additionally, crypto-backed credit lines are available in both Argentine Pesos and US Dollars, allowing users to access liquidity without losing exposure to potential upside in their holdings. New cardholders receive 10% back on their first swipe and can earn up to $450 in additional cashback and milestone rewards during their first three months. The card also provides monthly rebates on leading subscription services and annual airport lounge access with fast-track security, enhancing the overall value proposition for users.
Argentina has become one of the most crypto-forward populations in Latin America, driven largely by necessity rather than speculation. The country's informal dollar markets and capital controls have pushed millions of people toward alternative financial rails, creating a natural market for crypto-linked financial products. Argentina has processed approximately $93.9 billion in digital-asset transactions over three years, ranking second in Latin America behind Brazil. Nexo calls Argentina one of the deepest crypto adopters globally, citing the highest share of digital-asset adoption among markets it surveyed. With capital already moved into digital assets, the Nexo Card addresses what comes next: everyday utility — spending, borrowing, and earning from those holdings without selling them. The competitive landscape includes established platforms like Binance and Bitso that already operate in Argentina with varying degrees of local integration, making Nexo's Buenbit acquisition a strategic advantage for compliance and operational complexity.
The card launch coincided with Nexo's appointment of Andres Ondarra as General Manager of Nexo Argentina, effective from August 1. Ondarra brings more than 25 years of experience across traditional finance, fintech and crypto in Latin America, including Wall Street investment banking. He succeeds Federico Ogue, who led Nexo's Argentina expansion and is transitioning to a new entrepreneurial venture. Additionally, Nexo announced a partnership with the Argentine Football Association on April 14, 2026, becoming its Official Regional Digital Asset Partner. To sweeten initial onboarding, Nexo is granting new users its highest Platinum loyalty tier for one month if they deposit the equivalent of $1,000 or more within the first seven days, typically unlocking the best rates on yields and cashback. The card has received industry recognition from the Digital Banker Awards, FinTech Breakthrough Awards, and PAY360 Awards. With Buenos Aires now established as a regional hub, Nexo is investing in local infrastructure, building a regional team, and pursuing sports partnerships to deepen its footprint in Argentina.
The launch comes as more companies test crypto-linked cards in Latin America and other inflation-hit markets. Nexo manages more than $7 billion in client assets and has historically processed over $430 billion in transactions since 2018. The platform's product suite is specifically calibrated for Argentina's environment, with high stablecoin yields addressing demand for dollar-denominated savings, credit lines meeting liquidity needs without asset selling, and the card enabling crypto use in daily life without constant asset-fiat conversion. With Buenos Aires now established as a regional hub, Nexo is investing in local infrastructure, building a regional team, and pursuing sports partnerships to deepen its footprint in Argentina. Sustained success will depend on whether yields hold up, whether the card works seamlessly with local merchants, and whether the AFA partnership translates into actual user acquisition in the competitive Argentine market.
