Fold, a U.S.-based mobile app that allows consumers to earn bitcoin while shopping, announced it has joined Visa’s Fast Track program in order to speed up the process of integrating with the credit card giant. Fold revealed that by joining the program it is now able to offer a co-branded Visa card that allows consumers to earn bitcoin rewards.
Founded in 2014, Fold claims its customers may prefer bitcoin over airline miles, loyalty points, and other store-specific programs due to the fact that bitcoin does not have an expiration date and the rewards may be used to offer the cost of a customer’s next purchase, saved, or withdrawn. Fold CEO Will Reeves, further claimed that the Fold card will now provide an easier way for consumers to earn rewards in bitcoin for their everyday spending.
“Fold makes it easy for anyone to get their first piece of bitcoin when using the Fold card to earn bitcoin rewards on any purchase.”
Terry Angelos, SVP and Global Head of Fintech at Visa, also commented that by joining the Visa Fast Track Program, fintech startups such as Fold are able to gain access to Visa experts, technology, and resources. NFL player and Fold investor/advisor, Russell Okung, added:
“The Fold Visa Card represents a significant step towards mainstream adoption of Bitcoin. We’re excited for our partnership and the opportunity to introduce even more people to the best money in the world.”