Fold Holdings Stock Jumps After Announcing Stripe, Visa Partnership For Bitcoin Credit Card

Shares of Fold Holdings (FLD) jumped at market open on Tuesday after the company announced a partnership with payments giant Stripe to roll out its upcoming Fold Bitcoin Credit Card, which will run on Visa’s (V) network.

FLD’s stock was up as much as 8%, with retail sentiment on Stocktwits trending in ‘extremely bullish’ territory amid ‘extremely high’ levels of chatter over the past day. Meanwhile, Visa’s stock edged 0.1% higher, with retail sentiment in ‘bullish’ territory amid ‘high’ levels of chatter.

Fold said its new credit card allows users to earn Bitcoin (BTC) on every purchase, offering a base 2% back instantly, with the potential to boost rewards by an additional 1.5% when paying off charges through Fold’s Checking Account with qualifying activity. It added that customers could also earn back up to 10% at major retailers in the Fold rewards network, including Amazon (AMZN), Target (TGT), and Uber (UBER).

Fold has not disclosed an exact launch date for its Bitcoin Rewards Credit Card, but interested users can join the waitlist on the company’s official website. The card is expected to go live in the second half of 2025, allowing early sign-ups to secure a spot and receive updates on availability.

Fold is entering the fray as the competition in the crypto credit card space is heating up. Gemini (GEMI), for instance, has a credit card powered by Mastercard (MA) that allows customers to earn crypto rewards across various tokens. In August, it launched an ‘XRP edition’ of the credit card, which would allow up to 4% cash back in XRP on every purchase.

Venmo’s Visa credit card also allows cash back to be converted into Bitcoin or other cryptocurrencies, although it is not strictly a Bitcoin card. Meanwhile, Coinbase (COIN) is preparing its own Bitcoin credit card, the Coinbase One Card, which is expected to be released in the fall of 2025, in collaboration with American Express (AXP). It is expected to offer up to 4% Bitcoin back on purchases, but is still in the waitlist phase and not yet widely available.

Fold went public in mid-2024 and currently holds 1,500 BTC in its corporate treasury. The stock has struggled, dropping 64% year-to-date and 66% over the past 12 months.

Read also: XRP Tops Altcoins As Crypto Markets Stabilize After $1.68 Billion Futures Liquidation

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