- Nexo Card launches in Argentina with debit and credit modes for crypto users.
- Andres Ondarra will lead Nexo Argentina as General Manager from August 1.
- Buenos Aires is being positioned as Nexo’s regional hub for Latin America.
Nexo has launched its crypto debit-and-credit card in Argentina, marking a deeper push into one of Latin America’s most active digital-asset markets and placing Buenos Aires at the centre of its regional expansion strategy.
The launch comes alongside a leadership change, with Andres Ondarra appointed General Manager of Nexo Argentina.
The company said the two developments mark the next stage of its growth in the country, where digital assets have become a mainstream part of wealth management for many users.
Nexo described Argentina as a market where crypto adoption runs deeper than almost anywhere else, citing the highest share of digital-asset adoption among markets surveyed.
The company also said Argentina processed approximately $93.9 billion in digital-asset transactions over three years, ranking second in Latin America behind Brazil.
Nexo Card brings spending and borrowing utility
The Nexo Card allows clients in Argentina to use digital assets in two ways. In debit mode, users can spend their holdings directly. In credit mode, they can borrow against those assets as collateral without selling them.
The company said clients can switch between both modes through a single interface, giving users more flexibility in how they manage and use their crypto wealth.
New clients are being offered 10% back on their first swipe.
They can also receive additional cashback and milestone rewards worth up to USD 450 in total during their first three months. Nexo said users can earn up to 13% annual interest on idle in-app balances, paid daily.
The card has previously been recognised by the Digital Banker Awards, the FinTech Breakthrough Awards, and the PAY360 Awards.
“Argentine clients have spent a decade making digital assets part of how they manage wealth. The Nexo Card is built precisely for that — letting them spend in debit mode, borrow against their holdings in credit mode, and earn from every transaction, all without having to sell. It’s the freedom to live on that wealth, not just hold it,” said Andres Ondarra, incoming General Manager, Nexo Argentina.
For Nexo, the product launch is aimed at the next phase of crypto usage in Argentina.
With capital already moved into digital assets, the company is focusing on everyday utility: spending, borrowing and earning from holdings without requiring clients to sell them.
Eligible clients in Argentina can apply for the Nexo Card through the Nexo app and website.
Ondarra takes charge as Buenos Aires becomes regional hub
Ondarra will formally lead Nexo Argentina’s operations from August 1.
He brings more than 25 years of experience across traditional finance, fintech and crypto in Latin America, including a background in Wall Street investment banking.
His appointment comes as Nexo positions Buenos Aires as its regional hub for Latin America.
The company said it is investing in local infrastructure, sports partnerships, including the AFA, and a local team to support clients across the region.
Ondarra succeeds Federico Ogue, who led Nexo’s expansion in Argentina and is now moving to a new entrepreneurial venture.
“Argentina has one of the most sophisticated crypto and fintech ecosystems in the region, and the work Nexo has done here is something to be proud of. I look forward to passing the baton to Andres, who brings exactly the experience and vision to lead Nexo’s next stage of growth in Argentina,” said Ogue.
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