Fold has simplified earning Bitcoin—just swipe a card with no complexities or token juggling, receiving real BTC with each transaction.
Summary
- Fold introduced a Bitcoin rewards credit card in partnership with Visa and Stripe, providing up to 3.5% cash back in BTC.
- Holders can earn as much as 10% back at top retailers, enhancing Fold’s Bitcoin rewards ecosystem valued at $83 million.
- The initiative eliminates staking and category limitations, aiming to make Bitcoin a standard loyalty currency.
The company is broadening its ecosystem, having distributed over $83 million in bitcoin rewards so far. Backed by Stripe’s issuing infrastructure and Visa’s network, the new card aims to offer rewards in BTC instead of conventional benefits, indicating a drive to establish crypto as a mainstream loyalty currency.
In a statement on Sept. 23, Fold announced the card will provide up to 3.5% back in Bitcoin (BTC) for all purchases, avoiding the category rotations and complicated loyalty points typically found in traditional rewards cards.
Fold’s CEO Will Reeves highlighted the product’s ease of use, mentioning it entails “no tokens to stake, no exchange account or balance requirements; just genuine Bitcoin, automatically earned with every purchase.”
“Our credit card presents clear and substantial value, making bitcoin accessible to everyone,” Reeves noted. “It’s straightforward enough for newcomers to bitcoin but offers the transparency and control that early adopters expect. This is the type of financial instrument we’ve always envisioned bitcoin could facilitate, and with Stripe’s infrastructure and Visa’s global presence, we can finally deliver it at scale.”
A detailed look at Fold’s BTC rewards
Cardholders will get 2% back in Bitcoin instantly on all transactions. This base percentage can be raised to 3.5% for users settling their card balance with a Fold Checking Account that meets certain activity criteria, encouraging participants to engage with Fold’s broader financial ecosystem.
In addition to these fixed rates, the card taps into Fold’s established rewards network, offering up to 10% back at numerous major retailers. This includes popular everyday destinations like Amazon, Target, Home Depot, Uber, Starbucks, and DoorDash, positioning the card to attract a significant share of regular consumer spending.
This new credit card signifies a strategic growth for Fold, which has already made a substantial mark in the bitcoin rewards industry. In its statement, the company reported processing over $3.1 billion in transactions and distributing more than $83 million in Bitcoin rewards through its existing offerings.
These offerings encompass a Bitcoin debit card, an exchange, and gift cards. As the first publicly traded bitcoin financial services firm, Fold also notably maintains nearly 1,500 BTC in its corporate treasury, aligning its financial strategy with the success of its products and overall Bitcoin adoption.
The card’s launch also underscores the increasing involvement of payment processors in the adoption of digital assets. Stripe has been gradually re-entering the cryptocurrency sector this year, unveiling its Tempo blockchain project with Paradigm and enabling USDC acceptance for Shopify merchants in partnership with Coinbase.
Meanwhile, Visa has strengthened its commitment to crypto-linked card programs and broadened its stablecoin settlement operations, now managing an estimated $1 billion in annualized volume.
