Nexo has officially rolled out its crypto debit-and-credit card in Argentina, doubling down on expansion in one of Latin America’s most crypto-forward markets and making Buenos Aires the centerpiece of its regional strategy. The launch coincides with a leadership change: Andres Ondarra has been named General Manager of Nexo Argentina and will take the reins on August 1.
Why Argentina matters
- Nexo calls Argentina one of the deepest crypto adopters globally, citing the highest share of digital-asset adoption among markets it surveyed.
- Over the last three years Argentina processed roughly $93.9 billion in digital-asset transactions — the second-largest total in Latin America after Brazil — signalling a mature user base that’s ready for everyday crypto utility.
What the Nexo Card brings
The Nexo Card is designed to turn crypto holdings into day-to-day financial utility without forcing users to sell. Key features:
- Dual-mode operation: Debit mode lets clients spend crypto directly; Credit mode lets them borrow against crypto collateral while keeping positions intact.
- Easy switching: Users toggle between debit and credit modes in a single interface.
- Rewards and promos: New cardholders get 10% back on their first swipe and can earn up to USD 450 in additional cashback and milestone rewards during their first three months.
- Yield on balances: Nexo offers up to 13% annual interest on idle in-app balances, paid daily.
- Industry recognition: The card has won nods from the Digital Banker Awards, FinTech Breakthrough Awards, and PAY360 Awards.
Nexo’s pitch is about “living on” crypto — spending, borrowing and earning from holdings rather than just holding them.
Leadership and regional strategy
Andres Ondarra brings more than 25 years of experience across traditional finance, fintech and crypto in Latin America, including Wall Street investment banking. He will lead Nexo’s Argentine operations from August 1 as Buenos Aires becomes the company’s Latin American hub. Nexo says it is investing in local infrastructure, building a regional team, and pursuing sports partnerships — including with the Argentine Football Association (AFA) — to deepen its footprint.
Ondarra replaces Federico Ogue, who led Nexo’s Argentina expansion and is moving on to a new entrepreneurial venture. Ogue praised the team’s work in Argentina and expressed confidence in Ondarra’s ability to guide the next growth phase.
Availability
Eligible customers in Argentina can apply for the Nexo Card via the Nexo app or website.
Bottom line: With a mature market and heavy on-chain activity, Argentina is a natural battleground for crypto firms. Nexo’s card and local leadership push aim to convert crypto ownership into everyday financial freedom for Argentine users.
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