Fold Holdings Secures Up to $150 Million Credit Facility for Bitcoin Rewards Card

According to a modified company release, Fold has begun issuing its Fold Bitcoin Credit Card to selected waitlist members as it expands a bitcoin rewards product alongside its broader consumer finance and workplace payments business.

BTC

31d ago

Fact Check

Three independent news outlets (Bitcoin Magazine, Crypto Briefing, crypto.news) confirm Fold Holdings secured a credit facility of up to $150 million from Encina Lender Finance on May 27, 2026, to expand its Bitcoin rewards credit card. Crypto Briefing explicitly describes the four-year revolving structure backed by consumer credit card receivables with an accordion feature. The crypto.news article confirms the card rollout to waitlist members. A GlobeNewswire press release from Fold on the same date is also referenced in search results, indicating an official company announcement underpinning the coverage.

Summary

Fold Holdings has begun issuing its Fold Bitcoin Credit Card to selected members of its waitlist, adding a consumer credit product to its broader bitcoin rewards and workplace payments business. The rollout builds on Fold’s previously disclosed four-year senior secured revolving credit facility with Encina Lender Finance, which can reach up to $150 million and is backed by consumer credit card receivables to support card growth without new equity issuance. Fold had previously said the Visa card, issued by Celtic Bank using Stripe Issuing infrastructure, is accepted at about 175 million merchants worldwide and offers 1.5% back in bitcoin on net purchases, with rewards potentially rising to 4% through boosts and other features. The new update confirms the card has moved into live issuance for selected users from the waitlist.

Terms & Concepts

Bitcoin: A digital currency used by Fold as the rewards asset for its credit card program instead of traditional cash back or points.