Lemon said that users can pledge as little as 0.01 BTC, valued at just over $900 at launch, to unlock peso credit lines of up to 1,000,000 ARS. The core pitch is straightforward: users can access liquidity without selling Bitcoin, a direct response to Argentina’s inflation and peso volatility.
The company positioned the card as a way to reach underbanked consumers by removing the need for a traditional credit history, while also offering early-user incentives. By using Bitcoin as collateral, the product aims to turn long-term crypto holders into everyday peso spenders without forcing a sale.
How the product works and what users get
Lemon said clients deposit Bitcoin as collateral and receive peso-denominated credit, with initial collateralization typically set between 50% and 70% to reduce liquidation risk from BTC price swings. Those starting ratios are intentionally conservative, designed to give users breathing room during normal market moves.
At launch, Lemon highlighted a minimum pledge of 0.01 BTC, a credit ceiling of 1,000,000 ARS for the smallest accepted collateral amount, and commission-free purchases of “digital dollars,” Bitcoin, Ethereum, and more than 30 other assets. The package also included a Rootstock-related perk, with maintenance fees waived for the first three months.
Marcelo Cavazzoli, Lemon’s founder and CEO, said the goal was to offer “a simple way to access credit in pesos using Bitcoin as collateral, without needing a credit history.” That framing makes the target customer clear: people who save in crypto but still need pesos for day-to-day expenses.
What to watch: risk, execution, and next features
The product leans into Argentina’s established crypto usage amid ongoing currency depreciation, and it creates a new liquidity channel for traders and crypto treasuries. In practical terms, it allows Bitcoin to stay on a balance sheet while still generating spending power in pesos.
The main operational risks sit around collateral volatility and liquidation mechanics tied to the 50%–70% ratios. Those buffers may reduce frequent margin calls, but they don’t remove the downside risk if BTC drops quickly.
From the user perspective, avoiding a BTC sale preserves upside exposure, but it also introduces counterparty risk to the issuer providing the credit line. Lemon also signaled expansion plans, including user-adjustable collateral ratios and credit limits, plus an effort to enable stablecoin repayments for dollar purchases using USDT and USDC.
For investors, treasury managers, and market makers, the near-term scoreboard will be adoption and how smoothly Lemon ships the promised controls and repayment options. If usage scales and risk management holds up, it becomes a template others may try to replicate beyond Argentina.
