Fold, a Bitcoin rewards card provider, announced an expansion of its collaboration with Visa (NYSE: V) to bring innovative Bitcoin rewards card programs to the market.
This expanded agreement encompasses Fold’s flagship debit card program and upcoming credit card products, leveraging Visa’s shared services and incentives to enhance rewards offerings.
Fold’s approach to Bitcoin financial services is gaining significant traction, with over 600K Fold customers integrating Bitcoin into their daily lives.
This enhanced collaboration with Visa underscores Fold’s commitment to redefining the rewards landscape by “enabling consumers to earn even more bitcoin seamlessly through everyday transactions.”
Credit card transaction volume in the U.S. alone was “estimated to be nearly $6 trillion in 2024, with debit cards adding approximately $5 trillion more.”
Fold is committed to reshaping these markets by “making Bitcoin the preferred consumer reward.”
Fold’s card programs have reportedly “transacted over $2.5B in volume, delivering more than $70 million in bitcoin to its customers – over 3x the value they would have earned with cashback rewards.”
Fold is setting its sights on “rewriting traditional rewards programs, some of which process ~1% of US GDP.”
Fold’s card programs exist within a personal finance ecosystem designed to blend “traditional finance with the power of Bitcoin.”
Program features include bitcoin buys, “early paycheck deposit, automatic round-ups on purchases to buy bitcoin, and tools to manage and grow bitcoin holdings with ease.”
The new partnership with Visa is poised to accelerate Fold’s growth by introducing new products, such “as the upcoming Bitcoin rewards credit card.”
Will Reeves, CEO of Fold, said:
“At Fold, we’re not just building products, we’re shaping the future of rewards and personal finance. We believe bitcoin is the next evolution of rewards, and this partnership with Visa strengthens our ability to deliver unmatched value to our users.”
With more than $100 million in bitcoin held in treasury and a recent $30 million growth round of financing led by ATW, Fold plans to become “the first publicly-traded bitcoin financial services company listed on the NASDAQ.”
As noted in the update, Fold is the Bitcoin rewards card provider, offering financial solutions that “integrate traditional finance with the transformative power of Bitcoin.”
Fold has explained that its mission is to make Bitcoin more accessible and rewarding for everyone.
