A groundbreaking collaboration between financial technology company Fold and global payments leader Visa is set to introduce a credit card that rewards users with Bitcoin on their everyday purchases. This innovative product, named the Fold Bitcoin Rewards Credit Card, replaces conventional loyalty points or airline miles with cryptocurrency-based cashback, offering users up to 2% back in Bitcoin on all spending.
The card is scheduled for release later this year, and a waiting list is already open for early registrants. This initiative represents a significant shift in how consumers can accumulate and interact with digital assets through routine financial activities.
How the Bitcoin Rewards Card Operates
The Fold Bitcoin Rewards Credit Card eliminates complex reward caps, allowing users to earn unlimited Bitcoin cashback on all transactions. The standard offering provides:
- 1.5% unlimited Bitcoin rewards for existing Fold users
- 2% unlimited Bitcoin rewards for Fold+ subscribers
- Sign-up bonuses ranging from $100 to $250
- A premium metal card for Fold+ members
This structure is designed to make Bitcoin accumulation accessible and seamless, integrating directly with everyday spending habits without requiring active cryptocurrency trading.
Beyond the rewards program, cardholders gain access to a comprehensive suite of financial services within the Fold ecosystem. This includes fee-free Bitcoin trading, FDIC-insured transactional accounts, and secure BTC custody solutions, creating a holistic financial platform centered around digital assets.
"Fold has already empowered hundreds of thousands of users to incorporate Bitcoin into their daily lives. With this credit card, we aim to dethrone miles as the preferred credit card reward," stated Will Reeves, CEO of Fold.
The Strategic Vision Behind Bitcoin Rewards
The introduction of this card aligns with Fold's broader mission to position Bitcoin as a fundamental savings vehicle. The company reports having already distributed approximately $75 million in Bitcoin rewards through its debit card products—rewards that would have been valued at just over $20 million if paid in traditional cash at the time of distribution.
"This history highlights Bitcoin's potential as a superior savings asset, and the Fold Bitcoin Rewards Credit Card aims to accelerate this momentum," Reeves added.
This initiative coincides with Fold's preparations to become the first publicly-listed Bitcoin financial services company on the NASDAQ exchange. The company is simultaneously building one of the largest corporate Bitcoin treasuries among public companies, with reserves exceeding 1,000 BTC.
The ambition extends beyond mere rewards distribution. Fold envisions creating a comprehensive personal finance hub powered by Bitcoin, providing tools that enable users to earn, save, and grow wealth through cryptocurrency integration. 👉 Explore innovative financial tools
Global Context and Precedents
While Fold's announcement arrives during a period of significant Bitcoin market activity, the concept of cryptocurrency rewards cards isn't entirely novel. The global market has seen similar products emerging since at least 2018.
In Brazil specifically, entrepreneur Rocelo Lopes was among the first to pioneer a card offering Bitcoin cashback. Subsequently, fintech Zro Bank launched its own crypto card in 2019, providing up to 2% of purchase value returned in BTC to users.
These developments indicate a growing trend toward integrating cryptocurrency rewards into mainstream financial products, blurring the lines between traditional banking and digital asset ecosystems.
Frequently Asked Questions
How does the Bitcoin rewards card differ from traditional cashback cards?
Unlike traditional cards that reward spending with points or cash, this card directly deposits Bitcoin into your account. This means your rewards have the potential to appreciate in value over time, unlike fixed-value points or cash that may be affected by inflation.
What are the requirements to qualify for the card?
While specific eligibility criteria haven't been fully detailed, the card will be available through a waitlist system. Existing Fold users receive enhanced benefits, suggesting that engagement with the Fold platform may improve access and reward rates.
Are there any fees associated with earning or managing Bitcoin rewards?
According to initial information, users can trade Bitcoin without fees through the Fold ecosystem. However, standard credit card terms, including potential annual fees or foreign transaction fees, will be disclosed upon the card's formal launch.
How is the value of Bitcoin rewards calculated at the time of purchase?
The Bitcoin reward is calculated based on the purchase amount and the current market value of Bitcoin at the time of the transaction. The percentage (1.5% or 2%) of the purchase value is converted to BTC and credited to your account.
Can I use the Bitcoin rewards immediately after receiving them?
Yes, the rewards Bitcoin is held within your Fold account, where you can choose to hold it as savings, trade it, or eventually transfer it to external wallets, subject to the platform's terms and conditions.
Is this card available internationally, or only in specific countries?
Initial reports focus on its launch in the United States, with Fold expressing ambition to process significant portions of US consumer spending. Availability in other markets would likely depend on regulatory approval and expansion plans.
The Fold Bitcoin Rewards Credit Card represents a significant milestone in cryptocurrency adoption, potentially transforming how consumers perceive and use digital assets in their financial lives. By bridging the gap between traditional payment systems and innovative cryptocurrency rewards, this product could accelerate mainstream Bitcoin integration while offering consumers new ways to build digital wealth.