The rollout is powered by Visa’s payment rails and Stripe’s issuing platform, positioning Fold alongside a growing list of crypto firms experimenting with card-based rewards.
The Bitcoin Rewards Credit Card promises up to 3.5% back on everyday purchases, with boosted rewards of up to 10% at major retailers like Amazon, Target, Uber Eats, and Home Depot. Rewards are paid in Bitcoin, giving customers direct exposure to the cryptocurrency each time they swipe. Fold framed the card as an on-ramp for users to build a long-term Bitcoin position without needing to buy the asset directly.
Stripe executives highlighted their role in enabling new consumer-facing fintech products. “Issuing is designed for companies like Fold that want to bring innovative financial products to market without managing the complexity of running their own programs,” said Sateesh Kumar Srinivasan of Stripe. The announcement follows Stripe’s work integrating stablecoin payments for Shopify earlier this year.
Fold is not alone in this space. Crypto firms like Gemini already operate BTC rewards cards, while others – including Trump-backed World Liberty Financial (WLFI) – are preparing debit card launches with Apple Pay support.
The timing, however, is challenging. FLD stock, Fold’s publicly traded shares, tumbled more than 15% to $3.24 following the announcement, extending a slide of more than 70% year-to-date. The weakness contrasts with gains in other crypto-linked equities like MicroStrategy, Bitmine Immersion, and CleanSpark, though those stocks also retreated later in the session.
Fold’s stock slump comes against a broader crypto backdrop. Bitcoin itself has fallen more than 4% over the past week, compounding investor unease. Fold’s business is closely tied to Bitcoin’s fortunes – the company even holds 1,492 BTC on its balance sheet, according to Bitcoin Treasuries.
While the card aims to broaden Bitcoin’s utility, the question for investors is whether stronger consumer adoption can offset the drag of a volatile market and a sinking share price.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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