Nexo, a digital assets wealth platform, has introduced the Nexo Card in Argentina and appointed Andres Ondarra as General Manager for its local operations, signaling a strategic push into one of Latin America's most active cryptocurrency markets.
The Nexo Card allows users to spend digital assets in debit mode or borrow against them as collateral in credit mode without selling their holdings. Users can switch between the two modes through a single interface, offering flexibility for everyday transactions and portfolio management.
New cardholders are eligible for 10% cashback on their first purchase, with additional cashback and milestone rewards worth up to $450 during the first three months. Users can also earn up to 13% annual interest on eligible in-app balances, paid daily.
The card has previously received recognition from the Digital Banker Awards, the FinTech Breakthrough Awards, and the PAY360 Awards.
Ondarra brings more than 25 years of experience across traditional finance, fintech, and the cryptocurrency industry in Latin America, including prior work in investment banking on Wall Street. He will assume his role as General Manager of Nexo Argentina on August 1, focusing on client growth and the company's expansion in the country.
“Argentine clients have spent a decade making digital assets part of how they manage wealth. The Nexo Card is built precisely for that — letting them spend in debit mode, borrow against their holdings in credit mode, and earn from every transaction, all without having to sell. It's the freedom to live on that wealth, not just hold it,” said Ondarra.
According to Nexo, Argentina processed approximately $93.9 billion in digital asset transactions over a three-year period, making it the second-largest market in Latin America after Brazil. The launch of the Nexo Card aims to expand the everyday use of digital assets by enabling users to spend, borrow against, and earn from their holdings without liquidating them.
Nexo is also expanding its presence in Argentina through investments in local operations, sports partnerships—including with the Argentine Football Association (AFA)—and a dedicated local team supporting its activities in the country.
For broader context on digital asset innovations, see WhiteBIT Launches TradeFi for Multi-Asset Crypto Futures Trading and Bullbit Launches $BUBI Token with 4B Fixed Supply, Airdrop and BingX Listing.
This article is for informational purposes only and does not constitute financial advice.
