Fold Shifts Toward Customer Balances as Credit Card Reaches 2,500 Cardholders

Fold Holdings, Inc. is shifting its revenue strategy toward customer balances as its Bitcoin credit card reaches about 2,500 cardholders and new account products launch.

Chairman and CEO Will Reeves described the change: “A transaction pays us once. A customer balance earns for us every month it stays on the platform.”

Fold launched Fold Reserve, a stored-value product, and spending accounts with deposits held at Lead Bank, an FDIC-insured institution. Thousands of customers activated the products, bringing millions of dollars onto Fold’s platform. Those customers’ balances were several times the average Fold user’s balance.

For the card, Fold moved all eligible customers from a waitlist to an invitation system. It is also launching a preapproval flow outside its app. Fold plans to add a credit facility partner, which would let the card program grow beyond the company’s own balance sheet and support more invitations and higher limits for qualified customers.

The Fold Bitcoin Credit Card is an unsecured product that rewards eligible purchases with Bitcoin (BTC). Fold began rolling it out to part of its waitlist on May 27, 2026. The card’s reward terms include a 1.5% base Bitcoin reward on eligible purchases, with higher rates available under specified conditions.