Publicly-traded company Fold (FLD) announced a strategic partnership with payment giants Stripe and Visa (V) to introduce its first-ever Bitcoin-exclusive rewards credit card. This innovative product offers consumers an effortless method to accumulate satoshis (sats) on their daily spending.
The new Fold Bitcoin Credit Card will operate on the extensive Visa payment network and leverage the robust infrastructure of Stripe Issuing, as detailed in the company's official press release.
Cardholders are set to receive an instant 2% cashback in Bitcoin on all purchases. An additional 1.5% reward boost is available for users who pay off their balances using a Fold Checking Account with qualifying activity.
The program also features enhanced rewards of up to 10% back in Bitcoin when shopping with major retail partners like Amazon, Target, Home Depot, Starbucks, and Uber.
Will Reeves, Fold's CEO and founder, emphasized the card's user-friendly design, stating it provides "clear and compelling value" and makes Bitcoin "easily accessible to everyone" without complex categories, staking requirements, or exchange account mandates.
Stripe hailed the collaboration as a significant milestone for its new card-issuing platform, enabling fintech companies to launch advanced payment solutions. Visa's crypto lead, Cuy Sheffield, endorsed the card as a "safe, simple way to earn bitcoin."
Building on its existing suite of Bitcoin debit cards, an exchange, and a gift card program, Fold has already processed over $3.1 billion in transactions and distributed more than $83 million in BTC rewards. The company also holds a treasury of nearly 1,500 bitcoin.