Fold Officially Unveils Its Bitcoin Rewards Credit Card to Redefine Consumer Finance

Fold has taken a major step forward in bringing bitcoin into mainstream financial services with the introduction of its bitcoin rewards credit card, developed in collaboration with Visa. This launch represents a pivotal moment for the company as it continues building a comprehensive financial ecosystem centered around bitcoin accumulation.

The credit card features a tiered reward structure designed to incentivize ongoing engagement across Fold’s user base. Fold+ premium members will accumulate bitcoin at a 2% rate on qualifying purchases, along with bonus rewards up to $250 for reaching predefined spending thresholds. Standard Fold members enjoy a 1.5% bitcoin rewards rate with up to $100 in bonus incentives. Beyond the rewards mechanics, cardholders gain entry to a broader suite of financial tools accessible through the Fold platform—including zero-fee bitcoin trading capabilities, FDIC-insured transaction accounts, and professionally managed bitcoin custody services.

Responding to Years of User Demand

According to Mitch Port, General Manager for Credit and Loans at Fold, this bitcoin rewards credit card directly addresses one of the platform’s most consistent user requests. “The majority of our user base prefers to spend on credit while accumulating bitcoin in the background,” Port explained. This insight shaped the product development process and highlights how user feedback drives Fold’s innovation roadmap.

The new card complements Fold’s existing financial services offerings. The platform already provides a debit card linked to accounts that facilitate bill payments, direct deposit routing, and automated paycheck conversion into bitcoin. By adding a credit-based rewards mechanism, Fold creates optionality for users with different spending preferences—whether they prefer to draw from existing balances or carry forward credit transactions.

Building Toward Market Dominance in Bitcoin Rewards

Fold’s user base has grown to approximately 600,000 individuals who have collectively accumulated roughly $75 million in bitcoin rewards through the platform (equivalent to approximately $20 million when converted to USD at distribution time). This achievement demonstrates both the appeal of bitcoin-denominated rewards and the scale Fold has already achieved.

Company founder and CEO Will Reeves has articulated an ambitious vision for the bitcoin rewards credit card’s potential market impact. “We’re targeting nothing less than replacing miles-based rewards as the standard across the credit card industry,” Reeves stated. “If the top miles credit cards can collectively process roughly 1% of US GDP annually, we believe the Fold bitcoin rewards credit card can eventually reach comparable scale,” he added. This positioning reflects Fold’s confidence that bitcoin represents a fundamentally superior reward mechanism compared to traditional airline miles or cashback programs.

A Cornerstone of Broader Strategic Positioning

Timing the launch of this bitcoin rewards credit card aligns with Fold’s major corporate milestone: preparing for its debut as a publicly-traded bitcoin financial services company on NASDAQ. The company has already accumulated one of the top 25 bitcoin treasuries among publicly-listed firms, holding over 1,000 bitcoin in reserve. This substantial bitcoin allocation underscores management’s conviction in bitcoin’s long-term value and demonstrates commitment to the strategic thesis underlying all of Fold’s products.

For prospective users interested in accessing the bitcoin rewards credit card, Fold has opened a waitlist to manage demand during the rollout phase. The launch represents a culmination of Fold’s multi-year effort to make bitcoin the default medium for personal savings and wealth accumulation across mainstream consumer finance.