Revolution in purchasing: The new Bitcoin card from Fold and Visa!

Revolution in purchasing: The new Bitcoin card from Fold and Visa!

Fold recently launched an innovative Bitcoin rewards credit card backed by financial giants Visa and Stripe. This card offers up to 3.5% cashback in Bitcoin (BTC) on all purchases and allows cardholders to even earn up to 10% cashback at major retailers. Loud crypto.news users have received over $83 million in Bitcoin rewards so far.

The new credit card removes staking and category restrictions and aims to establish Bitcoin as a widespread loyalty currency. Fold CEO Will Reeves emphasizes that the product is easy to use and does not require any tokens, exchange accounts or account balances. Cardholders benefit from an unlimited 2% cashback on every purchase, while the cashback can be increased to 3.5% when paid via a Fold Checking account with qualifying activity.

Operating performance and market position

Fold has processed over $3.1 billion in transaction volume to date and is the first publicly traded Bitcoin financial services company. The company also holds nearly 1,500 BTC in its corporate treasury. This highlights Fold’s leading role in the cryptocurrency sector, particularly in providing financial services based on Bitcoin.

The credit card leverages Fold's existing rewards network, which allows users to earn big cashback at big-name retailers like Amazon, Target, Home Depot, Uber, Starbucks and DoorDash. The partnership with Stripe and Visa is not only a milestone for Fold, but also highlights the growing interest and investment from major companies in the cryptocurrency market.

Strategic moves by Visa and Stripe

This year, Stripe also increased its activities in the cryptocurrency sector and launched a blockchain project called Tempo. Visa, on the other hand, has expanded its crypto-linked card programs and processes an estimated $1 billion in stablecoin settlements annually. These developments show that the integration of cryptocurrencies into the traditional financial world continues to advance.

Overall, Fold is positioning itself with its Bitcoin reward credit card in a dynamic market that is increasingly characterized by innovative financial products and partnerships. As more consumers show interest in cryptocurrencies, this new card could play a crucial role in integrating Bitcoin into everyday life.