Bitcoin Rewards App Fold Makes Nasdaq Debut

Coin WorldWednesday, Feb 19, 2025 2:42 pm ET
1min read

Bitcoin rewards app Fold has made its public debut, commencing trading on the Nasdaq Composite on Wednesday. The company, which offers Bitcoin rewards and financial services, began trading under the ticker symbol FLD at $10.25 per share, subsequently rising to over $12.

Fold CEO Will Reeves expressed excitement about the listing on Nasdaq, stating that the company looks forward to continuing its mission to expand access to Bitcoin rewards and financial services as a public entity. Fold is now trading on Nasdaq under the symbol FLD.

Fold is one of the few digital asset companies to be publicly traded. Last year, the company announced plans to go public via a special purpose acquisition company (SPAC) agreement with FTAC Emerald Acquisition Corp., valuing the firm at $365 million.

Since its inception in 2019, Fold has processed over $2 billion in volume through services such as bill pay, debit cards, and insured accounts. Customers accrue Bitcoin rewards by utilizing Fold's services and can purchase BTC through the platform without fees. To date, Fold has distributed over $20 million worth of BTC rewards, valued at approximately $70 million due to the cryptocurrency's price appreciation.

In a statement, Fold CEO Will Reeves highlighted the company's commitment to expanding access to wealth creation for its clients. Fold has partnered with Visa to release a rewards debit card and is currently developing a credit card that will allow clients to "spend USD on credit and stack sats."

Other Bitcoin-focused companies trading on the Nasdaq include American miners like RIOT and software company Strategy (formerly MicroStrategy), which has rebranded as a "Bitcoin treasury company."

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