Nexo launches dual-mode crypto card in Argentina, names Andres Ondarra GM

Nexo has rolled out its dual-mode crypto card in Argentina and expanded its local push with operations built on its acquisition of exchange Buenbit, giving users a way to spend digital assets, borrow against them and earn yield without necessarily selling their holdings. The card works in debit mode for direct crypto spending and in credit mode for crypto-backed borrowing, with cashback historically of up to 2%, while the platform is also offering annual yields of up to 13% on USD-denominated stablecoins including USDT and USDC and credit lines in both Argentine pesos and U.S. dollars. The Buenbit deal underpins Nexo’s regional hub in Buenos Aires, which went live on March 5, 2026, as the company targets a market where demand for dollar-linked savings and alternative payment rails has been fueled by inflation, capital controls and strong crypto adoption. Nexo said it manages more than $8 billion in assets and has processed over $403 billion in transactions, and is offering new users its Platinum loyalty tier for one month if they deposit at least $1,000 equivalent within seven days. The company has also tied the expansion to brand-building in the country through an April 14, 2026 partnership with the Argentine Football Association as its Official Regional Digital Asset Partner. Andres Ondarra is set to take over as general manager for Argentina on Aug. 1, succeeding Federico Ogue.