- Argentine bitcoin exchange Lemon Cash has launched a Visa card that offers 2% cashback in BTC for every purchase.
- Users can use the international card to purchase everyday consumer goods from any merchant that accepts the Visa card.
- Lemon automatically converts the necessary amount of cryptocurrency from the user’s account to Argentine peso to make the payment.
Argentina-based bitcoin exchange Lemon Cash has launched a bitcoin card in conjunction with Visa that offers 2% cashback in BTC for every purchase, it has been reported. Bloomberg Line. The offer is the first card of its kind to combine the peso, the official national currency, with Argentina’s cryptocurrency, allowing users to make regular purchases with their cryptocurrency holdings.
“Visa aligns with our plans to do things in Argentina and we can make it an international card, with both digital and physical use,” said Marcello Cavazzoli, CEO of Lemon. Bloomberg Line.
Cavazzoli said Lemon will offer 100,000 cards on launch day to users who were on the waiting list, adding that his company’s mission is to “fill Argentina with bitcoin and get people to enter this world that is the future.” He said that making a 2% cashback on every bitcoin purchase is key to achieving this goal.
“We want people to save with bitcoin,” Cavazzoli said. “We have broken through traditional finance by introducing cryptocurrencies into everyday business. We will be the bridge between the traditional system and cryptocurrency.”
Adults in Argentina can request and use the card after registering for an account with Lemon Cash. The purchase of everyday consumer items will be made possible through the instant conversion of any cryptocurrency in the user’s account to peso at the moment the purchase is made. 2% bitcoin cashback is then credited to the user and automatically credited to their Lemon Earn savings account.