Nexo, a digital assets platform, has expanded into Argentina with the local launch of its Nexo Card, coinciding with the appointment of Andres Ondarra as General Manager of Nexo Argentina.
The moves position Buenos Aires as the company’s regional hub for Latin America, targeting a market where digital asset penetration ranks among the highest globally.
The card gives holders two ways to use their crypto holdings without liquidating them: spending directly in debit mode, or borrowing against those assets as collateral in credit mode, with both functions accessible through a single interface. New cardholders receive 10% back on their first transaction, plus additional cashback and milestone rewards totalling up to $450 over the first three months, along with daily interest payments of up to 13% annually on idle in-app balances.
The card has received recognition from 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.
Ondarra succeeds Federico Ogue as Nexo deepens local investment
Ondarra brings over 25 years of experience across traditional finance, fintech, and crypto in Latin America, including a background in Wall Street investment banking. He formally takes the helm on August 1, with a focus on client trust and continued growth in the country.
He succeeds Federico Ogue, who led Nexo’s Argentine expansion before transitioning 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.
Argentina processed approximately $93.9 billion in digital asset transactions over three years, ranking second in Latin America behind Brazil. With a significant base of existing crypto holders, the Nexo Card targets the next step beyond accumulation, giving users practical tools to spend, borrow, and earn from holdings they already hold.
Beyond the card launch, Nexo is investing in local infrastructure and sport partnerships including with the AFA, with the Buenos Aires office supporting clients across the broader Latin American region.
Featured image via Nexo.
