On September 7th, the fintech Lemon Argentina reported that users will now have the option to deposit dollars and convert them into USDC to have at their disposal. The transaction commission is only 2% and will be refunded to Lemon users in September.
People who want to make transfers must already have a Lemon account so that they can create a new USD-USDC account based on it within the same Lemon application. Once validation is complete, the user can access their deposit details.
The minimum commission is $2.5 and will be refunded in September to those users who transfer at least 10 USDC. There are no maintenance costs for the USD-USDC account.
There is a deadline of 5 business days to receive the corresponding amount of funds deposited in cryptocurrencies. because the application receives any amount that comes from banking institutions and applications that support the ACH network, a financial network originating in North America.
Sardine is the provider of Lemon’s integrated USD accounts and can therefore access any user’s account for a maximum of $12,000 per month. Once Sardine receives the funds, they will also be converted into USDC. Therefore, it can be used with the VISA Lemon Card or saved in each customer’s account, depending on their needs and the documentation provided, which is within the scope of the company.
Even The user has the opportunity to generate crypto profits with “Earn”, sell them for pesos, and also exchange them for other cryptocurrencies available in the application.
“With the aim of offering users more freedom and possibilities, this new feature allows Argentinians to capitalize and use their dollars from abroad through crypto solutions such as USDC with Lemon,” said Maximiliano Raimondi, CFO of Lemon, in the press statement from the company.