Payments
Visa to provide prepaid cards for bitcoin rewards company Fold
April 4, 2023
Fold, a bitcoin rewards company, has partnered with Visa, which will serve as its exclusive global partner for prepaid debit and credit cards in North America, Europe and Latin America and the Caribbean.
Since first launching its Visa co-branded bitcoin rewards debit card, Fold has seen nearly $1 billion in transactions with users earning $30 million in bitcoin rewards, according to a press release.
"We believe that digital currencies will play a role in the future of financial services and money movement," Cuy Sheffield, head of crypto at Visa, said in the release. "We're excited to work with Fold to create new ways for consumers to spend and engage with digital assets."
"In order to meet the growing demand for bitcoin onramps outside the U.S., we're thrilled to expand our engagement with Visa," Will Reeves, CEO of Fold, said in the release. "We believe that bitcoin can be a powerful tool for people all over the world to take control over their finances, and we are committed to making bitcoin as easy and accessible as possible for everyone."
Other payments providers have also launched prepaid cryptocurrency cards. For example, in 2020, BitPay introduced a Mastercard prepaid card for cryptocurrency users.
