Nexo has launched its crypto card in Argentina, giving local users the ability to spend digital assets directly or borrow against their crypto holdings without selling them. The announcement, made on July 8, 2026, also introduced Andres Ondarra as the new General Manager of Nexo Argentina.
Key Takeaways
- Nexo's crypto card in Argentina supports two modes: debit for direct crypto spending and credit for borrowing against holdings.
- Eligible users can pay in Argentine pesos or U.S. dollars at over 100 million merchants worldwide.
- Argentina ranks second in Latin America for crypto transaction volume, making it a strategic market for the launch.
What Nexo launched in Argentina
The Nexo Card operates in two modes. In debit mode, users spend their digital assets directly at point of sale. In credit mode, they borrow against crypto collateral, accessing liquidity without triggering a taxable sale. For related coverage, see Nexo Transfers 48,321 ETH to Binance.
The Argentina-specific product page lists borrowing rates starting at 1.9% per year, with support for payments in Argentine pesos locally and U.S. dollars internationally. Eligible clients can apply through the Nexo app and website. For related coverage, see BlockDAG, APT, AR, or AVAX: Which Is 2025’s Best Crypto Project?.
Users also get access to up to US$1,000 in monthly ATM withdrawals, a concrete feature for those who need physical cash alongside digital spending.
Andres Ondarra, the newly appointed General Manager, described the card as letting users "spend in debit mode, borrow against their holdings in credit mode, and earn from every transaction." The appointment signals Nexo's commitment to building a dedicated local operation rather than running Argentina as a remote market.
Nexo Services S.A. is registered under No. 159 in the CNV's PSAV registry, giving it a regulatory footing for virtual-asset operations in the country. This follows the company's broader pattern of seeking local compliance, similar to its relaunch in the U.S. with Bakkt after its SEC settlement.
Why Argentina matters for the rollout
Argentina ranked second in Latin America with USD 93.9 billion in crypto transaction volume, according to Chainalysis data. That volume reflects deep local demand for crypto as both an investment vehicle and an inflation hedge.
A crypto card that lets users pay in pesos or dollars without liquidating holdings addresses a specific pain point in a market where currency controls and inflation have driven sustained crypto adoption. The dual-mode structure, particularly credit mode, adds a layer that existing local products lack.
Ripio, the most prominent local competitor, offers a prepaid crypto card with 2% cashback on crypto payments and 0.5% on peso transactions. However, Ripio's card draws directly from wallet balances, functioning purely as a prepaid product. It does not offer Nexo's credit mode, collateral-based borrowing, or the 1.9% annual rate.
What the launch means for users and the market
For Argentine users, the card provides a way to use crypto for everyday spending without the friction of converting to fiat first. The credit mode is particularly relevant: users can access liquidity while maintaining exposure to their holdings, a feature that appeals to long-term holders.
The launch adds to Nexo's expanding footprint. The company has been active across multiple fronts in 2026, including its partnership with Audi Revolut F1 for the 2026 season and its integration of the Base network for ETH and USDC transfers.
The NEXO token traded at $0.74 at the time of the announcement, up 0.84% over the previous 24 hours, with a market cap of roughly $745 million. The broader crypto market sentiment sat at 22 on the Fear and Greed Index, reflecting extreme fear, which makes a product-focused expansion notable against a cautious backdrop.
Whether the Argentina card gains traction will depend on execution: how quickly applications are processed, which cryptocurrencies are supported for spending, and whether the credit terms hold up under local regulatory scrutiny. Nexo's CNV registration provides a foundation, but the card's real test will be daily usage in a market already familiar with crypto alternatives.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.