Curated News
By: NewsRamp Editorial Staff
November 14, 2025
Fold's Bitcoin Rewards Card Hits 80K Waitlist Amid 50% Revenue Growth
TLDR
- Fold Holdings' Bitcoin Rewards Credit Card with up to 10% rewards and 80,000 waitlist positions offers early adopters significant financial advantages over traditional cards.
- Fold Holdings achieved 50% revenue growth through disciplined spending, Bitcoin treasury management, and strategic partnerships with Visa and Stripe for credit card infrastructure.
- Fold's Bitcoin Gift Cards at 2,000 Kroger locations create mainstream cryptocurrency access, making digital currency adoption more inclusive for everyday consumers.
- Fold Holdings holds ₿1,526 in treasury worth $160M and processes $265M quarterly transaction volume while rewarding users with Bitcoin for everyday purchases.
Impact - Why it Matters
This development matters because it represents the mainstreaming of cryptocurrency integration into everyday financial services and retail experiences. Fold's expansion into major retail chains like Kroger and partnerships with established payment processors Visa and Stripe signals a significant shift toward broader cryptocurrency adoption. For consumers, this means easier access to Bitcoin rewards through everyday spending, potentially changing how people interact with digital assets. For investors, Fold's demonstrated growth trajectory and innovative product pipeline suggest the company is well-positioned to capitalize on the growing intersection of traditional finance and cryptocurrency. The company's ability to maintain operating leverage while scaling rapidly indicates a sustainable business model in the competitive fintech space, potentially setting new standards for cryptocurrency integration in mainstream commerce.
Summary
Stonegate Capital Partners has initiated coverage on Fold Holdings Inc. (NASDAQ: FLD), highlighting the company's impressive financial performance and strategic growth initiatives. Fold delivered $7.4 million in revenue with $265 million in total transaction volume for the quarter, demonstrating nearly 50% top-line growth year-over-year. The company added over 10,000 net new accounts and 3,000+ new verified accounts, while maintaining operating leverage despite doubling headcount. Management emphasized typical seasonal strength and expects this momentum to continue into the fourth quarter, supported by disciplined spending on distribution and product development.
The company's execution strategy focuses on expanding its retail footprint through innovative partnerships, including the Bitcoin Gift Card launch now available in approximately 2,000 Kroger locations. This mainstream on-ramp outside the app represents a significant expansion of Fold's retail distribution channel. The partnership with Steak 'n Shake that rewards customers further enhances this scalable path for broad retail distribution. Management noted that unit economics are already positive at the product level, with the focus shifting to scaling distribution. The company is also expanding exchange access to more users and additional states while adding larger order funding options like wires, which should increase average ticket size and trading frequency.
Fold's Bitcoin Rewards Credit Card, developed in collaboration with Visa and Stripe, emerges as the flagship growth lever with its waitlist surpassing 80,000 potential users. The card offers rewards up to 3.5% on all purchases with bonus earnings up to 10% at top brands in the Fold network, targeting initial distribution by year-end and general access in Q1 2026. Financially, the company maintains a strong position with ₿1,526 in its investment treasury supporting a Bitcoin NAV of approximately $160 million, supplemented by a $45 million revolving credit facility and a $250 million equity purchase facility tied to product momentum. Stonegate's valuation analysis suggests a price range of $5.42 to $7.71 based on blended EV/Revenue metrics.
Source Statement
This curated news summary relied on content disributed by Reportable. Read the original source here, Fold's Bitcoin Rewards Card Hits 80K Waitlist Amid 50% Revenue Growth
