Visa and Fold partnered to launch a credit card that offers bitcoin rewards.
The new Fold Bitcoin Rewards Credit Card will join the debit card products already offered by Fold, which is a bitcoin rewards and financial services platform, Fold said in a Tuesday (Feb. 11) press release. A waitlist for the card is now available.
“Fold has already empowered hundreds of thousands of users to incorporate bitcoin into their daily lives,” Fold CEO Will Reeves said in the release. “With this credit card, we aim to dethrone miles as the go-to credit card reward.”
The Fold Bitcoin Rewards Credit Card will offer up to 2% unlimited bitcoin rewards and up to $250 in bonuses, according to the release.
The card will also provide cardholders with access to bitcoin trading with no fees, insured bitcoin custody, FDIC-insured transactional accounts and bonus offers from merchants, the release said.
Members of the Fold+ subscription program will receive higher rewards and bonuses, a premium metal card and other exclusive perks, per the release.
“We’re building the hub of personal finance, powered by bitcoin, to ensure everyone has the tools to earn, save and grow their wealth with bitcoin every day,” Reeves said in the release.
Fold also said Tuesday in a separate press release that it and FTAC Emerald Acquisition Corp., a special purpose acquisition company (SPAC) sponsored by Cohen Circle, rescheduled a special meeting of FTAC’s stockholders to Thursday (Feb. 13) to vote on proposals relating to the companies’ proposed business combination.
Subject to stockholder approvals and satisfaction of other customary closing conditions, the business combination is expected to close “shortly after the special meeting,” the release said. After that, the combined company will be renamed “Fold Holdings,” and its common stock and warrants are expected to begin trading on the Nasdaq.
Fold said in July that it was set to go public after merging with FTAC Emerald Acquisition Corp.
In its Tuesday press release announcing the credit card, Fold said: “As Fold prepares to list on the Nasdaq as the first publicly traded bitcoin financial services company, it is also building a top-25 bitcoin treasury among public companies, with over 1,000 bitcoin in reserves. This initiative aligns with Fold’s mission to make bitcoin the cornerstone of personal savings for millions of Americans.”
