Nexo has rolled out its crypto card in Argentina, giving users in one of the world’s most inflation-ravaged economies a way to spend, borrow against, and earn yield on their digital assets. The move comes after the platform acquired local exchange Buenbit to establish a compliant foothold in the country.

What Nexo is actually offering

The Nexo Card operates in both debit and credit modes. In debit mode, users spend their crypto directly. In credit mode, they borrow against their digital assets without selling them, essentially treating their portfolio like collateral rather than a checking account.

Both modes come with cashback on transactions, historically up to 2%. Users also continue earning interest on assets held on the platform while using the card.

Beyond the card, Nexo is offering annual yields of up to 13% on USD-denominated stablecoins like USDT and USDC. Crypto-backed credit lines are also available in both Argentine Pesos and US Dollars, letting users access liquidity without losing exposure to potential upside in their holdings.

The Buenbit acquisition and market entry

Nexo acquired Buenbit, a local crypto exchange, to handle the regulatory and operational complexities of operating in Argentina. That acquisition formed the backbone of Nexo’s new regional hub in Buenos Aires, which went live on March 5, 2026.

Nexo manages more than $8 billion in assets and has historically processed over $403 billion in transactions.

To sweeten the initial onboarding, Nexo is granting new users its highest Platinum loyalty tier for one month if they deposit the equivalent of $1,000 or more within the first seven days. That tier typically unlocks the best rates on yields and cashback.

The football angle

On April 14, 2026, Nexo announced a partnership with the Argentine Football Association, becoming its Official Regional Digital Asset Partner. The timing is not accidental. The 2026 FIFA World Cup is approaching, and Argentina’s national team remains one of the most followed in the sport.

Why Argentina, why now

Argentina has been one of the most crypto-forward populations in Latin America for years, driven largely by necessity rather than speculation. The country’s informal dollar markets and capital controls have pushed millions of people toward alternative financial rails.

Nexo’s product suite is calibrated for this environment. High stablecoin yields address the demand for dollar-denominated savings. Credit lines in both ARS and USD address the liquidity needs of people who don’t want to sell assets in a volatile market. The card lets people use their crypto holdings in daily life without constantly converting between assets and fiat.

The competitive landscape includes Binance, Bitso, and several other platforms that already operate in Argentina with varying degrees of local integration. Nexo’s Buenbit acquisition gives it a head start on compliance, but sustained success will depend on whether the yields hold up, whether the card works seamlessly with local merchants, and whether the AFA partnership translates into actual user acquisition.