Lemon Cash Crypto Exchange Introduces Visa Card With 2% Bitcoin Cashback

Bitcoin exchange Lemon Cash has launched a Visa card that offers a 2% cashback in BTC for each purchase at any merchant that accepts Visa. The amount of cryptocurrency from the user’s account is automatically converted into Argentinian pesos to make the payment.

Argentina-based bitcoin exchange Lemon Cash has launched a bitcoin card in conjunction with Visa that offers 2% cashback in BTC for each purchase, according to Bloomberg Línea. The offering is the first card of its kind to combine pesos, the national fiat currency, with cryptocurrency in Argentina, and to allow users to make regular purchases with their cryptocurrency holdings.

Marcelo Cavazzoli, CEO of Lemon, commented:

“Visa aligned with our plans to do things in Argentina and we could make this an international card, which has both a digital and physical use.”

According to the chief executive, Lemon will deliver 100,000 cards on launch day for users that were on the waiting list, adding that his company’s mission is to “fill Argentina with bitcoin and make people enter this world that is the future.” Making the 2% cashback on each purchase be paid in BTC is central to achieving that goal, he said.

“We want people to save in bitcoin. We have hacked traditional finance by inserting crypto into the day-to-day. We are going to be the bridge between the traditional system and cryptocurrencies.”

Argentinians can solicit and use the card after signing up for an account with Lemon Cash. Buying everyday consumer items will be made possible through an instant conversion of any cryptocurrency in the user’s account to pesos at the moment the purchase is made. The 2% cashback in bitcoin is then credited to the user and automatically added to their Lemon Earn savings account.