Fold Becomes First Bitcoin Rewards Company to Go Public on Nasdaq

May 2, 2025 — Fold Holdings, Inc., the Bitcoin rewards and financial services platform, has officially gone public. On Friday morning, the company rang the Nasdaq opening bell, marking its debut under the ticker symbol $FLD.

Fold is now the first publicly traded company focused exclusively on Bitcoin financial services and consumer rewards. The bell-ringing ceremony took place at Nasdaq headquarters in New York at 9:20 am EDT.

A Milestone for Bitcoin-Backed Finance

Fold offers users the ability to earn Bitcoin through everyday purchases. Its app connects to a Visa-powered debit and rewards card, allowing users to receive BTC cashback on transactions. This approach gives customers direct exposure to Bitcoin without having to buy it outright.

“Today’s ringing of the bell doesn’t just celebrate how far we’ve come,” said Fold CEO Will Reeves during the ceremony. “It signals what’s next: a bright orange future where Bitcoin powers a new American Dream.”

Reeves emphasized that Fold represents a shift in how people engage with crypto. “We’re proud to represent the everyday use of Bitcoin in a market long dominated by speculation,” he added.

Visa Partnership and Global Reach

Fold’s collaboration with Visa began in 2023. The partnership enabled Fold to scale internationally across Europe, Latin America, and Asia-Pacific. This expansion allowed more users worldwide to earn Bitcoin cashback at millions of merchants.

Fold’s business model reflects the popular cashback programs tied to traditional credit cards. However, instead of receiving dollars or points, users earn Bitcoin — which they can hold, withdraw, or spend directly through the Fold app.

Path to Nasdaq

Fold completed its public listing via a SPAC merger with FTAC Emerald Acquisition Corp., finalizing the process on February 19. This route allowed Fold to bypass the traditional IPO process, which often involves higher regulatory hurdles and costs.

The company’s public listing marks a significant step in the integration of digital assets into consumer finance. It also highlights growing interest in Bitcoin-based services beyond speculation and trading.

What It Means For You [NFA]

Fold’s Nasdaq debut shows that Bitcoin rewards are entering the financial mainstream. If you’re earning cashback through credit cards, platforms like Fold now offer an alternative — BTC instead of fiat. This could appeal to users seeking passive Bitcoin exposure. But remember, the value of crypto rewards can fluctuate. Always do your own research before making financial decisions.