“Can a crypto-first wallet become the de facto consumer financial super-app for Latin America by stacking fiat rails, cards, yield, and a mini-app distribution layer on top of stablecoin custody?”
Lemon launched in 2019 as a crypto wallet for Argentine retail users, then built outward into adjacent fiat rails — local-currency accounts, a VISA prepaid card, international transfers, daily yields on pesos/dollars, and tokenized equity exposure to companies like Apple/Tesla. Through 2024–2025 it expanded across LATAM via country-specific licensed entities (Digifin in Argentina, Lanin Pay in Peru/Chile, Lemon IP in Brazil) and pivoted from a pure crypto exchange toward a 'super-app' positioning ('No es un banco, es Lemon') with a Mini-Apps SDK that turns Lemon into a distribution platform for other fintech builders in the region.
Lemon Cash discloses Digifin S.A. (in-house, Argentina PSPCP) / Lanin Pay (in-house, Peru/Chile) / Lemon Instituição de Pagamento (in-house, Brazil) as its banking provider, according to the Embedded Finance Index 2026.
Lemon Cash does not disclose a bank charter of its own; its banking services are provided through Digifin S.A. (in-house, Argentina PSPCP) / Lanin Pay (in-house, Peru/Chile) / Lemon Instituição de Pagamento (in-house, Brazil).
Lemon Cash processes payments through Lemon Pay (self-operated), VISA Lemon Card (prepaid, self-issued via partners) and QR payments Argentina/Brazil (self-operated).
Lemon Cash's cards are issued through Dock (Brazil).
Lemon Cash's crypto products run on Lemon (self-operated, with Proof of Reserves).
The Embedded Finance Index 2026 maps 4 layers in Lemon Cash's stack: Payments / PSP (Lemon Pay (self-operated), VISA Lemon Card (prepaid, self-issued via partners) and QR payments Argentina/Brazil (self-operated)); Banking / BaaS (Digifin S.A. (in-house, Argentina PSPCP) / Lanin Pay (in-house, Peru/Chile) / Lemon Instituição de Pagamento (in-house, Brazil)); Card issuing (Dock (Brazil)); Crypto (Lemon (self-operated, with Proof of Reserves)).
Lemon Cash was founded by Marcelo Cavazzoli and is founded in 2019, headquartered in Buenos Aires, Argentina.
Lemon Cash has raised $65.15M in total (latest round: Series B-II, ~$20M).
Get a read on where your own stack stands against Lemon Cash and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.