Visa, Stripe, and Fold to Launch Bitcoin Cashback Credit Card
Fold Holdings Inc. announced a partnership with Stripe to launch a credit card with Bitcoin rewards. The card will be issued on the Visa network and serviced by Stripe Issuing.
Fold Credit Card Bitcoin Rewards offers up to 3,5% cash back on bitcoin purchases. Cardholders instantly earn 2% cash back, plus up to 1,5% when paying with their Fold checking account. The card offers up to 10% cash back at participating brands, including Amazon, Target, Home Depot, and Starbucks.
Our credit card… makes bitcoin accessible to everyone,” said Fold Chairman, CEO, and Founder Will Reeves.
There’s no need to manage categories, no need to use tokens for staking, no need to have an exchange account. You only receive real bitcoins, automatically earned with every purchase.
Visa’s head of cryptocurrency, Kay Sheffield, noted that the Bitcoin rewards system, combined with Visa’s infrastructure, allows consumers to earn Bitcoin wherever Visa cards are accepted.
A Fold representative reported processing over $3,1 billion in transactions and distributing over $83 million in Bitcoin rewards. The company holds nearly 1500 BTC in its treasury and offers banking, custody, exchange, and lending products.
