Fold Holdings, Inc. (NASDAQ:FLD) saw its stock soar 60% after announcing a partnership with Stripe to power its upcoming Fold Bitcoin Credit Card™, which will operate on the Visa network.
The new card will allow users to earn up to 3.5% back in bitcoin on every purchase, with no spending categories or deposit requirements. Cardholders receive an unlimited 2% back instantly, with an additional 1.5% back available when purchases are paid off via a Fold Checking Account with qualifying activity. Top brands in the Fold rewards network, including Amazon, Target, and Uber, can offer users up to 10% back.
“Our credit card offers clear and compelling value and makes bitcoin easily accessible to everyone,” said Will Reeves, Chairman, CEO and Founder of Fold. “There are no categories to manage, no tokens to stake, no exchange account or balance requirements; just real bitcoin, earned automatically with every purchase.”
The collaboration with Stripe Issuing is a major step for Fold, enabling the company to launch its Bitcoin Credit Card with enhanced reliability and broader reach. The card will be issued on the Visa network, ensuring global acceptance.
Fold’s current ecosystem already includes a Bitcoin Debit Card, a Bitcoin exchange, and a Bitcoin Gift Card. The company reported processing over $3.1 billion in transaction volume and distributing more than $83 million in bitcoin rewards to date.
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