Fold Holdings Stock Jumps After Announcing Stripe, Visa Partnership For Bitcoin Credit Card
Synopsis
The company announced that its new credit card enables users to earn Bitcoin on every purchase, offering a base 2% back instantly.
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.
The company 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).
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