Nexo launches a dual-mode crypto card in Argentina enabling spending or collateral-backed borrowing without asset liquidation.
DeFi & Yields ·
Nexo has launched its Nexo Card in Argentina, enabling users to toggle between two operational modes from a single interface. In debit mode, cardholders can spend their digital assets directly; in credit mode, they can borrow against their crypto holdings without triggering a sale of those assets. The offering includes cashback rewards on qualifying purchases and interest accrual on unused balances held within the app.
The dual-mode structure addresses a friction point in crypto finance: the need to either liquidate holdings to access spending power or to pledge collateral for fiat borrowing. By allowing users to choose which mode suits their transaction without forced asset conversion, Nexo aims to reduce slippage and tax implications while retaining exposure to price movements.
What remains unclear is the extent of the rollout within Argentina—specifically, how many users are currently eligible, what credit limits or collateral requirements apply, and whether the card integrates with local payment rails or operates as a prepaid instrument. The timeline for potential expansion to other markets has not been disclosed.