Lemon

Lemon is an Argentine crypto-first fintech that combines a custodial digital asset wallet, a Visa debit card with Bitcoin cashback, DeFi yield accounts, fractional US stock trading, and international money transfers inside a single mobile app. Founded in Buenos Aires in 2020 by Marcelo Cavazzoli (CEO) and Borja Martel (CCO), the platform targets the unbanked and underbanked across Latin America, where currency instability and limited access to traditional financial services have driven high crypto adoption rates.

Platform and Core Wallet

Lemon's custodial wallet supports more than 30 cryptocurrencies, including Bitcoin, Ether, Solana (SOL), stablecoins USDT and USDC, and a range of DeFi and gaming tokens such as UNI, AXS, and MANA. Custody is managed through Lanin Pay S.A., the platform's El Salvador-registered custodian, with asset storage provided by Fireblocks' multi-layer custody system; approximately 95 percent of assets are held in cold storage. Lemon publishes its reserves publicly in real time.

Trading fees are 1 percent on Argentine peso-to-crypto purchases, 0.5 percent on crypto-to-peso sales, and 0.3 percent for direct crypto swaps. Users can buy SOL and other supported assets starting from 100 Argentine pesos, with SOL listed in the platform's smart-contract platforms category. SOL is also accepted as a funding currency for Lemon Card payments.

Lemon Card

The Lemon Card is a Visa prepaid debit card funded with any of the platform's supported cryptocurrencies or Argentine pesos. It is accepted at Visa's global merchant network of more than 150 million points, supports contactless payments and Apple Pay, and carries no issuance or maintenance fees. The card pays 2 percent cashback in Bitcoin on purchases funded with crypto and 0.5 percent in Bitcoin on peso-funded purchases. The platform had issued more than one million Visa cards as of late 2025.

Lemon Earn

Lemon Earn offers daily interest on USDC and USDT deposits, with the underlying yield generated through the Morpho protocol. Curated vaults are managed by Steakhouse Financial and Gauntlet. As of early 2026, more than 70,000 unique depositors had used the product, with more than $16 million in user assets deposited through the Morpho integration. Approximately 70 percent of Earn deposits are in stablecoins. Earlier versions of the product routed deposits through Compound and Aave before the Morpho integration.

Bitcoin-Backed Credit Card

On January 15, 2026, Lemon launched the first Bitcoin-backed Visa credit card in Argentina. Users deposit 0.01 BTC as collateral without selling or converting the Bitcoin, and receive a credit line of one million Argentine pesos. The card carries no credit history requirement, and the monthly fee is waived for users who purchase $150 or more in crypto monthly. The product is structured so that users retain exposure to Bitcoin price appreciation while accessing peso liquidity.

Stock Trading and Transfers

Lemon offers fractional trading in more than 10,000 US-listed companies directly within the app. The platform also supports fee-free international transfers to more than seven countries and integrates with services including PayPal, Wise, Airbnb, Payoneer, and Deel.

Platform Metrics

As of the Series B announcement in October 2025, Lemon reported nearly five million users; by early 2026 that figure had grown to approximately 5.5 million. The platform processes more than seven transactions per second and held approximately $160 million in user assets under custody. Projected 2025 transaction volume was $9.3 billion, a 57 percent year-over-year increase. Lemon had distributed more than 200 million Argentine pesos in Bitcoin cashback to cardholders. In Argentina, 2.4 percent of the population are daily active users of the platform, compared to a 0.4 percent average across Latin America.

Geography and Expansion

Lemon's primary market is Argentina, where the platform grew by offering access to US-dollar-pegged stablecoins as an inflation hedge. The company expanded to Peru in 2024, acquiring more than one million users and issuing more than 150,000 Visa cards in under one year. In July 2026, Peru's Superintendencia de Banca, Seguros y AFP authorized Lemon to operate as a licensed electronic money issuer. The Visa card launched in Colombia in May 2026, with further expansion into Mexico, Brazil, and Chile underway. Lemon has targeted ten million total users within twelve months of its Series B close.

Funding and Investors

Lemon has raised approximately $66 million across three rounds. A $875,000 seed round in December 2020 was led by Draper University Ventures. A $16.3 million Series A in July 2021 was co-led by Kingsway Capital and Coinbase Ventures. A $20 million Series B in October 2025 was led by F-Prime Capital and ParaFi Capital. Additional investors include DRW Venture Capital, Van Eck VC, Endeavor Catalyst (chaired by Reid Hoffman), and Stani Kulechov, founder of the Aave lending protocol. Lemon added Bitcoin to its corporate treasury in April 2025.