Nexo appoints ex-Binance exec to lead Argentina business and launches Nexo Card

Crypto wealth platform Nexo has launched its dual-mode crypto card in Argentina and tapped former investment banker Andres Ondarra as general manager for the country, the company said Wednesday.

The company is expanding its presence in one of the world’s fastest-growing digital asset markets. Argentina ranked second in Latin America with approximately $94 billion in crypto transaction volume between mid-2024 and mid-2025, according to Chainalysis.

Crypto adoption has accelerated rapidly, with Argentina recording the region’s highest per capita user penetration at roughly 12.4% of the population, around four times Brazil’s level, according to a report from Lemon.

According to Nexo, the dual-mode card enables customers to spend digital assets in debit mode or use them as collateral for credit without selling their holdings. Nexo is offering new users cashback incentives and interest of up to 13% on idle balances.

“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,” Ondarra said in a statement.

Ondarra, with more than 20 years of experience in financial services, previously held senior roles at Bitso, BTG Pactual, Bank of America Merrill Lynch and Citi. Before joining Nexo, he served as Binance’s general manager for Argentina and the Southern Cone.

The fintech executive will start overseeing Nexo’s Argentine business on Aug. 1. He will succeed Federico Ogue, who led the company’s expansion into the country.

“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,” Ogue stated. “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.”