TLDR
- Fold partners with Stripe and Visa to launch a Bitcoin-only credit card with up to 3.5% bitcoin rewards.
- Cardholders earn 2% instant bitcoin back plus 1.5% extra by paying via Fold Checking Account.
- Up to 10% bitcoin rewards offered on major retailers including Amazon, Target, and Uber.
- Fold has processed $3.1B in transactions and distributed $83M in bitcoin rewards to date.
Fold, a Bitcoin-focused financial services firm, has announced a new credit card that rewards purchases exclusively in Bitcoin. The Fold Bitcoin Credit Card™ is supported by payment technology company Stripe and operates on the global Visa network.
The card is scheduled for release later this year. It offers up to 3.5% back in Bitcoin on every transaction, with a flat 2% awarded instantly and an extra 1.5% for users who pay their balance through a Fold Checking Account.
Fold Partnership with Stripe and Visa
Fold’s partnership with Stripe and Visa gives the credit card global acceptance and operational reliability. Stripe provides the issuing technology to help Fold manage the card program without building infrastructure from scratch. Visa supplies its payment network, ensuring secure and widely recognized processing for every purchase.
The card stands out from other crypto-linked cards that rely on complex token systems or staking requirements. Instead, it focuses on simplicity and transparency. Will Reeves, CEO and founder of Fold, explained that the card is “simple enough for someone new to Bitcoin, but built with the transparency and control early adopters expect.”
Bitcoin Rewards Simplified
In addition, the Fold Bitcoin Credit Card is designed to help consumers accumulate Bitcoin without directly navigating exchanges or private wallets. Users earn Bitcoin automatically as they spend, removing the need to purchase the cryptocurrency manually. This approach, described by Fold as “earn first, learn later,” has proven effective in attracting first-time Bitcoin users.
The reward structure supports both casual and committed users. Every purchase earns at least 2% back in Bitcoin, while using a Fold Checking Account to pay off balances can increase rewards to 3.5%. Special offers of up to 10% back with select brands add another incentive. This system is intended to encourage consistent use while remaining simple to understand.
Growing Adoption and Market Response
Furthermore, the announcement has generated immediate market attention. Fold Holdings, Inc. (NASDAQ: FLD) saw its stock surge by 60% following the news. Investors reacted positively to the potential for customer growth and recurring transaction volume that a widely accepted Bitcoin rewards card could bring.
Fold reports more than $3.1 billion in processed transactions and $83 million in Bitcoin rewards distributed across its existing products. The company already operates a Bitcoin rewards debit card, a Bitcoin exchange, and a gift card service. Integrating a credit card into this ecosystem expands its reach and deepens customer engagement.
Industry Support and Outlook
At the same time, industry partners have expressed confidence in the launch. Stripe’s Head of Money Management Product, Sateesh Kumar Srinivasan, stated that Stripe’s consumer issuing technology is designed to help companies like Fold introduce new products without operational complexity.
Fold aims to make Bitcoin accumulation a routine part of everyday spending. If adoption grows as expected, earning and saving Bitcoin could become as commonplace as paying for groceries or commuting. The Fold Bitcoin Credit Card marks a strategic expansion for the company and a notable step in bringing cryptocurrency rewards into mainstream consumer finance.
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