- Nexo Card has been launched in Argentina with debit and credit modes for cryptocurrency users.
- Andrés Ondara will lead Nexo Argentina as Managing Director as of August 1.
- Buenos Aires is positioned as Nexo’s regional hub in Latin America.
Nexo has launched its cryptocurrency debit and credit card in Argentina, marking a deeper push into one of Latin America’s most active digital asset markets and putting Buenos Aires at the heart of its regional expansion strategy.
The launch comes alongside a change in leadership, with Andres Ondara appointed as General Manager of Nexo Argentina.
The company said the two developments represent the next phase of its growth in the country, with digital assets becoming a key part of wealth management for many users.
Nexo described Argentina as a market where cryptocurrency adoption is deeper than almost anywhere else, noting the highest share of digital asset adoption among the markets surveyed.
The company also said that Argentina processed approximately $93.9 billion in digital asset transactions over three years, ranking second in Latin America after Brazil.
The Nexo Card offers the benefit of spending and borrowing
the nexo card Clients in Argentina are allowed to use digital assets in two ways. In debit mode, users can spend their holdings directly. In a credit mode, they can borrow against those assets as collateral without selling them.
The company said customers can switch between both modes through a single interface, giving users more flexibility in how they manage and use their crypto wealth.
New customers are offered a 10% discount on their first swipe.
They can also earn additional cash back and milestone rewards totaling up to $450 during the first three months. Users can earn up to 13% annual interest on dormant in-app balances, which are paid daily, Nexo said.
The card has previously been honored by the Digital Banker Awards, FinTech Breakthrough Awards, and PAY360 Awards.
“Argentine customers have spent a decade making digital assets part of how they manage their wealth. The Nexo Card is designed specifically for this purpose – allowing them to spend in debit mode, borrow against their holdings in credit mode, and profit from every transaction, all without having to sell. It’s the freedom to live off that wealth, not just hold it,” said Andres Ondara, incoming Managing Director of Nexo Argentina.
For Nexo, the product launch is aimed at the next stage of the use of cryptocurrencies in Argentina.
With capital already moving into digital assets, the company is focusing on everyday utilities: spending, borrowing and profiting from properties without requiring customers to sell them.
Eligible customers in Argentina can apply for the Nexo Card through the Nexo app and website.
Ondara takes charge as Buenos Aires becomes a regional centre
Ondarra will officially lead Nexo Argentina’s operations as of August 1.
He has over 25 years of experience in traditional finance, fintech and cryptocurrencies in Latin America, including a background in investment banking on Wall Street.
His appointment comes as Relationship It makes Buenos Aires its regional center for Latin America.
The company said it is investing in local infrastructure, sports partnerships, including the Asian Football Confederation, and a local team to support customers across the region.
Ondarra succeeds Federico Ogue, who led Nexo’s expansion into Argentina and is now moving into a new entrepreneurial venture.
“Argentina has one of the most advanced cryptocurrency and fintech ecosystems in the region, and the work Nexo has done here is something to be proud of. I look forward to handing the baton to Andres, who brings exactly the experience and vision to lead the next phase of Nexo’s growth in Argentina,” Oje said.
