Lemon exchange profile: Argentina crypto services and regional exit limits

Lemon is an active regional crypto and payments app, but its Brazil business has announced that virtual-asset services will cease by 15 November 2026. Bay Treasure Caramel LTDA says it will not pursue the Brazilian SPSAV authorisation process. As of this profile’s 20 October check, that is an announced forthcoming cessation, not evidence that the whole Lemon group has already closed.[2]

The detailed pricing and account workflows below primarily concern Argentina. Lemon advertises crypto dealing, peso and dollar access, a card, yield products and access to shares, but those facilities have separate counterparties and conditions. A product visible on the regional website is not evidence of identical access for a resident of each country.[1]

Argentina’s current crypto terms make USDT the reserve asset behind the consolidated balance and permit market-based conversion of supported incoming stablecoins. Outgoing selection can require conversion back to the chosen token. Consequently, USDC in, USDt displayed and USDC out do not necessarily mean the same stablecoin remained untouched in custody throughout; depegging and conversion terms matter.[3]

At the published rates, an illustrative ARS 100,000 purchase incurs ARS 500 commission, while a 1,000-unit crypto swap incurs 3 units at 0.3%. These calculations isolate commission: the executable quote, currency conversion and any network transfer can change the total received.[14]

For a US$1,000 incoming wire, the newer 1.5%-plus-US$12 description implies US$27 before any additional bank or conversion costs. The older 2%-plus-US$12 wording would imply US$32. The US$5 difference illustrates why these conflicting publications cannot be collapsed into one confidently current all-in charge.[9][10]

Pack Business raises the monthly bank-transfer allowance to 500. Its price is disclosed in-app, including VAT, and is charged for the whole calendar month without prorating a late start. A one-off option ends with that month; recurring membership renews monthly. Cancelling prevents the next renewal, ordinarily without refunding the current period.[22]

The peso withdrawal guide allows transfers to an Argentine CBU, CVU or alias and distinguishes these from internal Lemontag transfers. Enter and verify the beneficiary before confirmation because the guide treats confirmed transfers as irreversible. A free internal transfer does not establish that the receiving person’s later bank or blockchain withdrawal is also free.[17]

The September Business terms apply a 100-bank-transfer monthly threshold, counting incoming and outgoing transfers but excluding Lemontag. A user declining the paid package can request one special transfer of the entire available peso balance. Using that exit then stops both incoming and outgoing bank transfers until the next calendar month; reaching the threshold alone is not account deletion.[22]

For the US banking route, Bridge’s linked terms require the source to be the customer’s own account or an accepted employer arrangement. They contain minimum-payment conditions and allow termination after more than a year of non-use. This is route eligibility and inactivity treatment, not evidence of a universal Lemon dormant-account fee or an ordinary personal US bank account held directly by the customer.[10]

The local-USD agreement describes receipt from, and withdrawal to, the customer’s own Argentine dollar account, with conversion through USDt. It gives a possible 72-business-hour processing period, but its 30 September expiry prevents treating that timing as an unqualified current service commitment. The status page listed Argentina USD deposits as operational when inspected; operational status does not renew the agreement.[11][12]

On-chain confirmation shows the selected network and service costs. The help guide warns that near-minimum withdrawals may need an extra email confirmation. Confirm the exact route before sending.[14]

For Argentine customers using Pix in Brazil, the separate terms describe a quoted conversion and a confirmation that makes the payment irreversible. Fees and operating limits depend on the displayed transaction. Refunds depend on receipt from the merchant or payment chain; the terms allow up to 15 business days after receipt. The Argentine traveller product is a separate scope from the Brazil entity’s announced closure.[32]

Lemon publishes a reserve-transparency mechanism pairing on-chain assets with a Merkle-tree liability check accessible through its app. Such a check can help a customer inspect inclusion and compare disclosed assets with disclosed liabilities. This review did not verify a fresh numerical reserve snapshot, all off-chain obligations or an independent financial-statement audit; the mechanism is not a guarantee of immediate withdrawal or protection against every insolvency claim.[5]

Peso payment accounts are provided by Digifin S.A., formerly Findi. Its terms expressly distinguish payment balances from bank deposits and state that bank-deposit guarantees do not apply. Treat the peso payment account, the hosted crypto balance and a separate securities account as distinct legal and operational exposures.[4]

Optional USDt yield introduces a further relationship: The Place’s Argentina terms connect allocated USDT with Morpho. They describe protocol and smart-contract exposure, variable returns and a net rate after performance charges whose percentage is not universally fixed in the document. Choosing yield changes how the funds are deployed; it should not be treated as insured interest on an ordinary cash balance.[24]

BTC pledged for the credit card is locked collateral. The collateral terms permit liquidation after the minimum payment remains unpaid for the specified 48-hour period following its due date, potentially covering the total debt and interest. Any shortfall remains owed. Release also requires the contractual checks and debt settlement; unlocking the BTC freezes the card. A spending limit is therefore not unencumbered cash added to the portfolio.[30]

The Argentina crypto contract requires an eligible adult resident with an Argentine DNI and one personal account. It excludes US, British Virgin Islands and Puerto Rico nationals or residents and applies sanctions restrictions. These crypto conditions should not be replaced with different age or eligibility rules that may appear in a payment provider’s broader terms.[3]

The retrieved account-setup instructions require the identity document’s front and back. Use the appropriate regional application flow and matching personal information; a download link alone does not establish acceptance. The directly blocked help centre prevented verification of every current onboarding step or numerical account limit, so no universal instant-approval time is asserted here.[19]

Closing an account requires the peso and crypto balances to be reduced to zero. The July help article directs users to the personal-data area and Delete Account, and provides a route to request reactivation. That differs from a blanket promise that the same account can never be reopened. Resolve outstanding cards, collateral and connected products before treating a zero app balance as complete closure.[16]

Lemon’s public status page breaks service health into login and recovery, local currency, crypto transfers, trading, card operations, verification and security components. Checking the affected component helps distinguish a general incident from a particular payment or account review. A green component is a platform-level observation, not proof that an individual transaction has settled.[12]

The loss-reporting site is intended for urgent access or card problems. Report a lost phone to terminate sessions, and include the card in the report when it is also compromised. Card reporting is separately available inside the app. A support message without invoking the relevant loss control should not be assumed to have paused spending or logged out every device.[13]

For P2P disputes, the relevant contract is with The Place, not solely the Argentine crypto entity. Its terms provide an initial direct dispute process, including a ten-day response period and a thirty-day process, before the stated Salvadoran arbitration route. Preserve the advertisement, counterparty details and payment evidence; the expiry of an advertisement does not itself resolve a dispute over a completed exchange.[23]

Bay Treasure Caramel S.A. identifies itself as Argentine CNV PSAV registration 162. The CNV public-register entry point was inspected, but a firm-specific current result was not obtained. The number is therefore attributed to the company, without a positive independently verified permission record or an inference that all connected products have the same regulator.[3][33]

The Brazil notice is explicit that Bay Treasure Caramel LTDA is discontinuing virtual-asset services and will not seek SPSAV authorisation. A historic regional product page or group-wide user count cannot override that notice. Brazilian customers need the entity’s current exit instructions and dates before relying on continued local service.[2]

The main website claims more than four million validated users, over two million Visa cards and US$9.3 billion processed. The inspected headline does not give a comparable measurement period for the processed amount. These are company marketing metrics checked on 20 October 2026, not independently audited monthly active traders or current exchange turnover.[1]

An April 2026 company update describes Lemon’s founding in 2019 by Marcelo Cavazzoli and US$66 million raised across seed, Series A and Series B rounds. Its historical user figures and later page-footer counters have different dates and scopes. They should not be combined into a fresh active-customer estimate or a trading-volume ranking.[34]

Lemon combines Argentine crypto custody, Digifin payments and cards, and Salvadoran P2P or protocol-yield contracts. Identify the relevant provider when pursuing a payment, withdrawal or protocol claim.[4][23][24]

Operator

Bay Treasure Caramel S.A.

Exchange model

Centralised

Service scope

Argentina crypto dealing and payment-linked services; regional products differ.

Client types

Retail clients

Pricing publication

Public and quoted pricing

Pricing scope

Published core commissions; route, package and credit costs require product-specific checks.

Funding scope

Peso transfers, supported crypto networks and conditional dollar routes.

Custody and asset handling

Hosted crypto; optional protocol yield, collateral and payment balances have separate contracts.

Client eligibility

Argentina crypto terms require eligible adults; Brazil has announced a November 2026 winddown.

Support

In-app assistance, component status and loss-reporting tools.

Authorisation and registration scope

Company claims CNV PSAV registration; no firm-specific register result was independently obtained. Brazil cessation is separately disclosed.

Exchange metadata checked 20 Oct 2026Source 1Source 2Source 3Source 4

Yield requires explicit activation. The terms extend allocation to later eligible balances until consent is revoked; revocation stops future participation without reversing transactions already carried out. They also contemplate protocol or vault changes with 48 hours’ notice. Review the current destination, displayed net rate and withdrawal conditions rather than assuming the app’s initial percentage is fixed.[24]

The optional SUR product converts existing and future eligible pesos into ARSs. Deactivation converts them back; the terms impose a 14-day interval between later voluntary switches, while ordinary payment or withdrawal conversions are treated separately. SUR and the money-market arrangement are mutually exclusive while active. The displayed peso unit therefore does not alone identify whether the underlying holding is a payment balance or a token.[25]

For shares, Quaestus’s terms require specific customer instructions rather than discretionary management, with execution and settlement through Alpaca. Sale proceeds and withdrawal availability depend on the securities workflow; the terms do not establish that a US share balance can be withdrawn like an on-chain token. Any securities protection must be assessed within that separate account, not extended to Lemon crypto holdings.[29]

Mini Apps are third-party services reached inside the interface with separately associated hosted wallets. The terms allow applications or contract access to be restricted or discontinued, with treatment of remaining balances under the applicable process. This does not establish a general customer trading API, a persistent desktop trading workspace or authority for an AI agent to move all account assets.[26]