Core Insights - Fold Holdings, Inc. is set to launch its Bitcoin Rewards Credit Card on September 23, with Stripe providing backend infrastructure and Visa as the issuing network [1][3] - The shares of Fold Holdings have dropped over 14% following the announcement of the credit card [1][6] Product Details - The Bitcoin Rewards Credit Card allows users to earn Bitcoin on every purchase, offering up to 3.5% back in Bitcoin, with an unlimited 2% earned instantly and an additional 1.5% by using the Fold Checking Account [2] - The card leverages Stripe Issuing's platform and Visa's global network to ensure reliability and accessibility [3] Strategic Partnerships - The partnership between Fold, Stripe, and Visa is described as a blueprint for innovative financial products, minimizing the complexities of program management for companies [3] - Visa emphasizes the security and scale of its network, allowing consumers to earn Bitcoin wherever Visa is accepted [4] Company Performance - Fold claims to have over $3.1 billion in transaction volume and has distributed more than $83 million in Bitcoin rewards, holding nearly 1,500 BTC in its treasury [5] - Following the credit card announcement, Fold's share price fell from $3.88 to $3.31, reflecting bearish sentiment in the cryptocurrency market on that day [6]
Fold Holdings to Launch Bitcoin Credit Card with Stripe, Visa Partnership