Fold Holdings, Inc. (NASDAQ: FLD) has started issuing its Fold Bitcoin Credit Card to select members of its waitlist, marking a new chapter in bitcoin-linked payments. The card runs on the Visa network and is powered by Stripe Issuing, offering cardholders up to 4% back in bitcoin rewards on purchases.
How the rewards stack up
The base reward rate is 1.5% bitcoin back, but users can hit higher rates through behavior-based boosts and targeted offers from Fold's partner network. Paying the bill in bitcoin earns an extra 0.5% back on that payment. The top rate of 4% makes this one of the more generous bitcoin cashback cards available, though the specifics of the boost mechanics weren't detailed.
Card access and delivery
Fold is rolling out access in batches over the coming weeks and months. Active holders have started receiving physical cards in the mail; new applicants will get a physical card upon approval. Users can also access a virtual card through the Fold App, which works with Apple Pay and Google Pay. That means immediate spending ability while waiting for the plastic to arrive.
Features and controls
Cardholders get real-time reward tracking, lock/unlock controls, fraud alerts, and the option to link a Fold Checking account or an external bank for payments. The card is accepted at 175 million Visa merchants worldwide.
CEO on the launch
CEO Will Reeves kept the messaging simple. 'No gimmicks, complicated points systems or token rewards. Just a simple and transparent way to earn bitcoin on everyday spending,' he said. The timing puts Fold in a growing pool of crypto credit cards, but the bitcoin-native rewards and Visa backing could give it a distinct pull.
Fold hasn't said how many waitlist members have been invited so far, but the phased rollout suggests the company is managing demand carefully. The next batch of invitations is expected in the coming weeks.
