Overview
- Fold announced a bitcoin-only credit card that pays 2% back in BTC instantly, rising to as much as 3.5% when balances are paid via a Fold Checking Account.
- The card is powered by Stripe Issuing and runs on Visa’s global network to enable broad merchant acceptance.
- Partner offers can lift rewards up to 10% at major retailers such as Amazon, Target, Home Depot, Starbucks and Uber.
- Fold’s shares (FLD) dropped more than 14% intraday following the announcement after an initial pop.
- The company reports over $3.1 billion in processed transactions, more than $83 million paid in BTC rewards, and roughly 1,500 BTC in its treasury, with no firm release date provided for the card.