Nexo has rolled out its long-awaited crypto debit-and-credit card in Argentina, stepping up its presence in one of Latin America’s most active digital-asset markets and naming Buenos Aires as the centerpiece of its regional strategy. The launch arrives alongside a leadership change: Andres Ondarra will take over as General Manager of Nexo Argentina on August 1, succeeding Federico Ogue.
Why Argentina matters
Nexo highlights Argentina as a standout market for crypto adoption, saying it has the highest share of digital-asset adoption among the markets it surveyed. Over the past three years, Argentina processed roughly $93.9 billion in digital-asset transactions—second in Latin America only to Brazil—making it a priority for companies building crypto infrastructure and consumer products.
What the Nexo Card offers
The Nexo Card is designed for users who want to use crypto without having to sell it. Key features:
- Dual modes: Debit mode lets clients spend crypto holdings directly; Credit mode lets them borrow against crypto collateral without liquidating positions.
- Seamless switching between modes through a single interface for more flexible wealth management.
- Interest and rewards: Up to 13% annual interest on idle in-app balances, paid daily.
- Intro offers: New clients get 10% back on their first swipe and can earn up to USD 450 in combined cashback and milestone rewards during their first three months.
The card has already won industry recognition from the Digital Banker Awards, the FinTech Breakthrough Awards, and the PAY360 Awards.
Strategy and local investment
Nexo says the card launch represents a shift from accumulation to everyday utility in Argentina—helping users spend, borrow, and earn from crypto holdings without selling. Eligible Argentines can apply for the Nexo Card through the company’s app and website.
To support growth, Nexo is investing in local infrastructure, building a regional team in Buenos Aires, and pursuing sports partnerships, including work with the Argentine Football Association (AFA). With these moves, the company is positioning Buenos Aires as a Latin American hub for its operations.
Leadership change
Andres Ondarra, who brings more than 25 years of experience across traditional finance, fintech and crypto in Latin America (including a background in Wall Street investment banking), will lead Nexo Argentina from August 1. Federico Ogue, who led Nexo’s Argentina expansion, is leaving to pursue a new entrepreneurial venture. Ogue praised the team’s achievements and welcomed Ondarra as the right leader to guide the next phase of growth.
Bottom line: Nexo’s card launch and local leadership push signal a bet that Argentina’s deep crypto adoption will translate into strong demand for everyday crypto financial services—spending, credit, and yield—anchored from a Buenos Aires regional hub.
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