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Investing.com -- Fold Holdings, Inc. (NASDAQ:FLD) stock surged 60% after the bitcoin financial services company announced it has selected Stripe to power its upcoming Fold Bitcoin Credit Card™, which will be issued on the Visa network.
The new credit card will offer users up to 3.5% back in bitcoin on every purchase, with no categories and no deposit requirements. Cardholders will earn an unlimited 2% back instantly, plus up to an additional 1.5% back when they pay off purchases using their Fold Checking Account with qualified activity. The company also highlighted that users can earn up to 10% back with top brands in the Fold rewards network, including Amazon, Target, and Uber.
"Our credit card offers clear and compelling value and makes bitcoin easily accessible to everyone," said Will Reeves, Chairman, CEO and Founder of Fold. "There are no categories to manage, no tokens to stake, no exchange account or balance requirements; just real bitcoin, earned automatically with every purchase."
The integration with Stripe Issuing represents a significant development in Fold’s product lineup, allowing the company to bring its Bitcoin Credit Card to market with enhanced reach and reliability. The card will be issued on the Visa network, providing global acceptance.
Fold’s existing product ecosystem includes a Bitcoin Debit Card, Bitcoin exchange, and Bitcoin Gift Card. According to the company, it has processed over $3.1 billion in transaction volume and distributed more than $83 million in bitcoin rewards to date.
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