Nexo Argentina launches Nexo Card, appoints Andres Ondarra as GM

Nexo, a digital assets wealth platform, has launched the Nexo Card in Argentina alongside the appointment of Andres Ondarra as General Manager for Nexo Argentina.

The company said the two developments mark the next phase of its expansion in a market with high levels of digital asset adoption.

The Nexo Card allows users to spend digital assets in debit mode or borrow against them as collateral in credit mode without selling their holdings, with the option to switch between the two modes through a single interface.

New users are eligible for 10% cashback on their first purchase, along with additional cashback and milestone rewards worth up to $450 during their first three months.

Users can also earn up to 13% annual interest on eligible in-app balances, paid daily.

The Nexo Card has previously received recognition from the Digital Banker Awards, the FinTech Breakthrough Awards, and the PAY360 Awards.

Ondarra brings more than 25 years of experience across traditional finance, fintech, and the cryptocurrency industry in Latin America, including previous experience in investment banking on Wall Street.

"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.

From August 1, he will lead Nexo's operations in Argentina, focusing on client growth and the company's expansion in the country.

According to Nexo, Argentina processed about $93.9 billion in digital asset transactions over a three-year period, making it the second-largest market in Latin America after Brazil.

The company said the launch of the Nexo Card is intended to expand the everyday use of digital assets by allowing users to spend, borrow against, and earn from their holdings without selling them.

Nexo said it is also expanding its presence in Argentina through investments in local operations, sports partnerships, including with the Argentine Football Association (AFA), and a local team supporting its activities in the country.