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CoinVoice has learned that, according to Cointelegraph, Argentine cryptocurrency exchange Lemon has launched a Bitcoin-backed Visa credit card, allowing users to lock in Bitcoin as collateral to obtain peso credit lines without selling their crypto assets.
Users only need to lock in 0.01 Bitcoin (about $960) as collateral to receive an initial credit limit of 1 million pesos. Lemon plans to expand the product features in the future, enabling users to adjust collateral and credit limits, and ultimately settle purchases in USD-pegged stablecoins such as USDC or USDT.