Key Insights:
- Fold Holdings announced its Bitcoin Credit Card powered by Stripe Issuing and the Visa network.
- Card offers up to 3.5% back in Bitcoin rewards with no spending categories or staking requirements.
- The launch comes amid growing competition in the crypto rewards card market, with major partnerships.
Fold unveiled its “Bitcoin Credit Card” powered by Stripe and Visa technology on Sept. 23, offering 3.5% back in Bitcoin rewards.
The publicly traded Bitcoin financial services company positioned the card as a simplified entry point into Bitcoin ownership through everyday spending.
The partnership between Fold, Stripe, and Visa represented a convergence of traditional financial infrastructure with cryptocurrency rewards.
Fold selected Stripe’s programmable financial services platform to power the card launch while leveraging Visa’s global payment network for merchant acceptance.
Cuy Sheffield, head of crypto at Visa, said:
“Fold’s bitcoin rewards, paired with Visa’s scale and security, gives consumers a safe, simple way to earn bitcoin as they shop. With the Fold Bitcoin Credit Card, cardholders can earn bitcoin anywhere Visa is accepted.”
The launch taps into a growing usage of crypto, especially stablecoins, on regular payments.
Card Structure Targets Mass Market Appeal
The Fold Bitcoin Credit Card offers up to 3.5% back in Bitcoin rewards, with no spending categories or deposit requirements. Cardholders earn an unlimited 2% back instantly on all purchases, plus up to 1.5% additional rewards when paying off purchases through their Fold Checking Account with qualified activity.
The card extended rewards through partnerships with major retailers, including Amazon, Target, Home Depot, Lowe’s, Uber and Uber Eats, Starbucks, DoorDash, and Best Buy.
These partnerships offer up to 10% back in Bitcoin rewards across hundreds of merchants in Fold’s network.
Fold designed the rewards system without requiring tokens, staking tiers, or an exchange account. The approach contrasted with competitor cards that required cryptocurrency holdings or platform-specific tokens to unlock higher reward rates.
Will Reeves, CEO and founder of Fold, described the card as a mass-market tool for Bitcoin adoption. The executive noted the card’s simplicity compared to existing crypto reward options that required category management or staking requirements.
Sateesh Kumar Srinivasan, head of money management product at Stripe, highlighted the partnership as validation of Stripe’s consumer issuing product capabilities.
The Stripe executive noted that the platform was designed specifically to help companies like Fold launch new financial products without the complexities of program management.
Growing Crypto Card Competition Heats Up
The Fold launch occurred amid intensifying competition in the crypto rewards card market. Major players launched significant Bitcoin-focused offerings throughout 2025, creating multiple options for cryptocurrency enthusiasts.
Coinbase announced its One Card partnership with American Express in June 2025, promising up to 4% Bitcoin back on all purchases.
The Coinbase offering requires membership in the platform’s subscription service but provides higher maximum rewards compared to Fold’s structure.
Gemini expanded its credit card offerings with an XRP-focused edition in August 2025, though the card also supported Bitcoin rewards alongside 50 other cryptocurrencies.
The Gemini card offered category-based rewards with 4% back on gas and transportation spending.
Traditional financial institutions also entered the space with enhanced offerings. American Express partnered with multiple crypto platforms to power Bitcoin rewards programs, while Visa expanded its crypto partnership network beyond Fold.
Fold’s track record demonstrates the potential value appreciation of Bitcoin rewards compared to traditional cash-back programs.
The company distributed $83 million in Bitcoin rewards across $3.1 billion in transaction volume, with early participants benefiting from Bitcoin’s price appreciation over time.
The broader crypto card market also reflects growing institutional acceptance of digital asset integration. Major payment processors, such as Stripe and Visa, have committed infrastructure resources to support crypto reward programs, signaling confidence in long-term demand.
Market dynamics favor Bitcoin-focused offerings as the cryptocurrency reached new milestones in adoption. Fold’s publicly traded status on Nasdaq provides additional credibility compared to privately held competitors in the crypto rewards space.
The launch reinforced the trend toward Bitcoin-only reward programs as cryptocurrency adoption continues to accelerate. Fold’s simplified approach targeted both crypto newcomers and experienced Bitcoin users seeking streamlined reward accumulation.