Lemon Launches Visa Card in Colombia

Lemon, the Latin American crypto wallet company, has launched its Visa Lemon Card in Colombia. The international card is free to issue and maintain, and offers a 0.4% cashback in digital dollars on every purchase — matching the rate of the country's contentious 4x1000 financial transaction tax (GMF).

The cashback is automatically credited in digital dollars after each payment, effectively letting users recoup the tax they would otherwise pay when using traditional bank accounts or local wallets. “For years, Colombians have been paying the GMF, also known as the 4x1000, a tax that incentivizes cash use and discourages free movement of money,” said Federico Biskupovich, COO of Lemon. “That’s why we decided to refund that same amount as cashback in digital dollars with every payment using our Visa card.”

The company opened a waitlist in April that attracted over 20,000 sign-ups for the physical card. Since then, nearly 10,000 users have already created the virtual version, with YouTube, Apple and Rappi among the most-used merchants. Both virtual and physical cards have no issuance or maintenance fees. Users also earn reward tickets for prizes such as travel and tech.

Lemon has been active in Colombia since early 2026 and now has more than 60,000 validated users in the country, projecting to exceed 200,000 by year-end. The platform supports deposits and withdrawals via PSE and ACH, and allows instant buying and selling of digital dollars or Bitcoin. Lemon is also working on integrating with Bre-B, Colombia's central bank instant payment system, to enable instant peso transfers.

Founded in 2019 in Argentina by Marcelo Cavazzoli, Lemon has raised over $66 million from investors including Kingsway Capital, F-Prime and ParaFi. The company now has more than 4 million validated users across Latin America.