Fold Lands $150 Million to Fuel Bitcoin Credit Card Growth
Bitcoin Magazine Fold Lands $150 Million to Fuel Bitcoin Credit Card Growth Fold Holdings, Inc. secured a $150 million asset-backed revolving credit facility from Encina Lender Finance, LLC to scale its Bitcoin rewards credit card program without diluting shareholders. This post Fold Lands $150 Million to Fuel Bitcoin Credit Card Growth first appeared on Bit...
Key takeaways
- 1Fold secured $150 million asset-backed credit facility from Encina to scale Bitcoin rewards credit card without equity dilution.
- 2Fold Bitcoin Credit Card offers 1.5% to 4% bitcoin rewards on purchases across 175 million Visa merchants worldwide.
- 3Fold's Q1 2026 revenues fell 21.1% year-over-year to $5.6 million, signaling need for growth momentum reversal.
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Why it matters
This funding enables Indian retail investors to access Bitcoin rewards credit cards through a growing fintech player, while Fold's revenue decline highlights execution risks in the emerging crypto finance sector. The deal demonstrates institutional confidence in Bitcoin-linked financial products but also reflects market challenges requiring capital infusion for scaling.
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