Fold’s Bitcoin Rewards Credit Card Launches Amid Stock Volatility
- Fold Holdings announced a Bitcoin rewards credit card on the Visa network, in collaboration with Stripe.
- The card offers up to a total of up to 3.5% back in Bitcoin on all purchases, with no spending categories or deposit requirements.
- Fold’s stock (Nasdaq: FLD) opened at $4.69 but fell over 14% to $3.32 by the end of the day.
- Stripe has processed over $3.1 billion in transaction volume and distributed more than $83 million in Bitcoin rewards.
- Bakkt saw its stock rise nearly another 18% following Mike Alfred’s appointment to its advisory board.
Fold’s new credit card aims to make earning Bitcoin accessible through everyday spending, offering competitive rewards without complex requirements or categories. Despite this announcement, Fold’s stock experienced significant volatility, reflecting market uncertainty and competition within the crypto financial services sector.
The introduction of Fold’s credit card highlights ongoing interest in integrating cryptocurrency into mainstream financial products, though market reactions remain mixed as seen with the fluctuation in Fold’s stock price post-announcement and Bakkt’s concurrent gains due to strategic appointments. (Source)
