Argentina’s First Bitcoin Treasury Company to List on Stock Exchange or Bitcoin Treasury Firm Zonda Capital to Trade on Argentina’s BYMA or Argentina Approves Publicly Traded Bitcoin Treasury Company

Argentina is rapidly emerging as a significant player in the Bitcoin ecosystem, with a series of recent developments signaling increasing adoption of the cryptocurrency in both the financial and corporate sectors. The country’s challenging economic environment, characterized by persistent inflation and limited access to traditional banking, is driving this trend, as Argentinians seek alternative stores of value and financial tools.

First Bitcoin-Backed Visa Credit Card Launches

On January 14-15, 2026, Lemon, Argentina’s second-largest crypto exchange, launched the nation’s first Bitcoin-backed Visa credit card. This innovative product allows users to access credit in Argentine pesos (ARS) while retaining ownership of their Bitcoin (BTC) holdings as collateral. Users can deposit as little as 0.01 BTC to access up to 1 million Argentine pesos, roughly $700, according to the company. The card addresses a critical need for access to credit in a country where traditional banking options are limited for many.

Marcelo Cavazzoli, Lemon’s founder and CEO, emphasized the role of Bitcoin as “the best store of value created in the history of humanity and the fundamental piece for the new digital economy.” The card’s launch provides a “simple way to access credit in pesos using Bitcoin as collateral, without needing a credit history,” he stated.

Fighting Inflation and Economic Instability

Argentina has struggled with severe economic instability for years, with hyperinflation peaking at over 200% annually in 2023-2024. While recent austerity measures under President Javier Milei and over $20 billion in US bailouts have reduced annual inflation to around 31% as of today, February 3, 2026, the need for alternative financial solutions remains strong. The Bitcoin-backed credit card offers a potential solution for Argentinians seeking to protect their wealth and access credit in a volatile economic climate.

Corporate Adoption Gains Momentum

Beyond individual access, corporate Argentina is also embracing Bitcoin. In July 2024, an Argentine company completed registration with both BTC and USDC, marking a first for the country. The company was founded with nearly $500 in capital, comprised of both cryptocurrencies, though the funds had to be transferred to a registered domestic exchange for the registration process. This move signals a growing acceptance of cryptocurrencies as legitimate forms of capital within the Argentine corporate landscape.

More recently, Zonda Bitcoin Capital became the first publicly traded company in Argentina to center its treasury strategy around Bitcoin accumulation. The company, which began trading on the Buenos Aires Stock Exchange, allows investors to gain exposure to Bitcoin through a regulated financial instrument. Zonda Bitcoin Capital intends to access Bitcoin through the BlackRock ETF (IBIT), which trades in the US, rather than through self-custody.

A New Model for Bitcoin Treasury Companies

Zonda Bitcoin Capital’s founder and CEO, Leonardo Rubinstein, describes the company as bringing a model “that is already very successful in the world” to Argentina. The company aims to amplify investor returns beyond the appreciation of Bitcoin itself by issuing credit instruments. Rubinstein notes that Strategy, a US-based Bitcoin treasury company, has seen its stock grow over 1000% compared to Bitcoin’s 500% growth over the same period.

Rubinstein addressed concerns about potential systemic risk, referencing criticisms leveled against Strategy. He argued that such concerns are often based on incomplete analysis of company balance sheets and that Strategy’s structure is robust, with a relatively low debt-to-asset ratio. He also pointed out that Strategy’s Bitcoin holdings are not automatically subject to liquidation.

Government Endorsement and Regulatory Framework

The increasing adoption of Bitcoin in Argentina is supported by a shift in government policy. In December 2023, Argentina’s new government “ratified and confirmed” that contracts denominated in Bitcoin can be officially recognized by the country’s courts. This endorsement, championed by President Javier Milei, aligns with his campaign manifesto and signals a broader acceptance of cryptocurrencies within the legal framework.

Diana Modino, Argentina’s minister of foreign relations and international commerce, stated that “in Argentina you can agree on contracts in Bitcoin,” extending this acceptance to other cryptocurrencies and commodities as well.

Latin America as a Bitcoin Frontier

Argentina’s embrace of Bitcoin is part of a broader trend across Latin America. The region is emerging as a key frontier for Bitcoin treasury companies, with a strategy tailored to the unique economic realities of the region. The combination of economic instability, limited access to traditional finance, and a growing awareness of the potential benefits of Bitcoin is driving this adoption. The launch of Zonda Bitcoin Capital and the increasing corporate use of Bitcoin demonstrate Argentina’s commitment to becoming a leader in this evolving landscape.