Executive Summary

Fold, a Bitcoin financial services company, announced a partnership with payment processor Stripe and global network Visa to launch a Bitcoin rewards credit card, deepening cryptocurrency integration into mainstream payment systems. The collaboration introduces a product designed for everyday Bitcoin accumulation, marking a significant step in broader crypto adoption.

The Event in Detail

On September 23, 2025, Fold Holdings, Inc. (NASDAQ: FLD), a US-listed Bitcoin financial services company, announced a strategic collaboration with Stripe and Visa to introduce the Fold Bitcoin Rewards Credit Card™. This new product is designed to allow consumers to earn Bitcoin through their daily spending.

The credit card leverages Stripe's consumer Issuing product for its operational infrastructure and integrates with Visa's extensive global payments network. The card offers cardholders an unlimited 2% back in Bitcoin instantly on every purchase, with an additional 1.5% back available to users who pay off their balance using a Fold Checking Account, bringing the potential total rewards to 3.5%. Furthermore, users can earn up to 10% back in Bitcoin at a network of major retail brands, including Amazon, Target, Home Depot, Starbucks, Uber, Lowe's, DoorDash, and Best Buy.

Will Reeves, Chairman, CEO, and Founder of Fold, emphasized the card's simplicity and transparency, stating that it provides "clear and compelling value and makes Bitcoin easily accessible to everyone." Unlike some other crypto-linked reward cards, Fold's offering is structured as "Bitcoin-only" and is presented without annual fees, staking requirements, or minimum balance thresholds to unlock reward tiers. Fold has a history in Bitcoin rewards, having previously launched a debit card, gift card, and shopping app, processing over $3.1 billion in transaction volume and distributing more than $83 million in Bitcoin rewards to date.

Market Implications

The launch of the Fold Bitcoin Rewards Credit Card signifies a material advancement in the mainstream integration of cryptocurrencies into traditional financial ecosystems. This partnership between a Bitcoin-focused company and established payment industry leaders like Stripe and Visa highlights an accelerating trend toward PayFi innovation, where financial services incorporate crypto elements for broader consumer use.

This initiative is poised to positively influence market sentiment for Bitcoin by enhancing its utility and accessibility. The product directly addresses the "spend and earn" aspect of cryptocurrency, positioning Bitcoin as a direct reward currency rather than solely an investment asset. This contrasts with earlier crypto reward cards that often involved managing various tokens or navigating complex staking mechanisms. The card's design, emphasizing direct Bitcoin accumulation without fees or minimums, aims to lower the barrier to entry for new users interested in cryptocurrency.

The collaboration can be seen as a strategic move aligning with the growing trend of institutional adoption and regulatory clarity in the crypto space. Cuy Sheffield, Visa's Head of Crypto, noted the launch as part of a broader trend, emphasizing that such integrations provide "a safe, simple way to earn bitcoin as they shop." Visa's previous engagements, including processing over $200 million in stablecoin settlements and launching its Tokenized Asset Platform in 2024, underscore a strategic embrace of digital assets within its payment infrastructure.

Broader Context

The introduction of the Fold Bitcoin Rewards Credit Card occurs within a dynamic landscape characterized by increasing regulatory frameworks and a deepening integration of crypto into mainstream finance. The stablecoin market, for instance, surpassed $230 billion in market capitalization by April 2025, with monthly transaction volumes reaching $650–700 billion. This scale demonstrates the growing real-world utility and acceptance of digital assets within payment systems.

Regulatory developments, such as the implementation of the Markets in Crypto-Assets (MiCA) regulation in Europe in January 2025, provide clearer operational guidelines for crypto businesses, fostering institutional confidence. Although the U.S. regulatory environment remains fragmented, legislative efforts like the draft Stablecoin Act signal a move towards federal clarity, which could further accelerate mainstream adoption.

The partnership among Fold, Stripe, and Visa exemplifies how financial institutions are adapting to and leveraging crypto innovations. This trend aligns with moves by companies like PayPal and Coinbase, which are actively embedding crypto into their platforms through stablecoins and on-chain infrastructure. Such initiatives are making crypto payments more intuitive and comparable to traditional financial transactions, contributing to the significant growth observed in PayFi transaction volumes, which increased 3.4x year-over-year. The Fold Bitcoin Rewards Credit Card thus contributes to the ongoing evolution of the financial landscape, where digital currencies are becoming an increasingly integral component of global commerce.