Bitcoin financial services company Fold has made a significant leap by going public on the Nasdaq Composite. This move positions Fold among a select group of crypto-focused companies trading on major U.S. stock exchanges.
Public Listing Details
Fold began trading under the ticker symbol FLD at an initial price of $10.25 per share. The stock experienced an upward trajectory, climbing to over $12 shortly after the debut. CEO Will Reeves expressed enthusiasm about the listing, emphasizing the company’s mission to expand access to Bitcoin rewards and financial services.
Company Background and Growth
Founded in 2019, Fold has processed over $2 billion in transactions through services such as bill payments, debit cards, and insured accounts. The platform rewards users with Bitcoin for their activities and offers fee-free BTC purchases. To date, Fold has distributed over $20 million in Bitcoin rewards, now valued at approximately $70 million due to Bitcoin’s price appreciation.
Strategic Partnerships and Product Offerings
In collaboration with Visa, Fold introduced a Bitcoin rewards debit card last year. The company is also developing a credit card that will allow users to earn Bitcoin rewards on USD credit spending.
Market Context
Fold joins other Bitcoin-centric companies on the Nasdaq, including mining firms like RIOT and software company Strategy (formerly MicroStrategy), which has rebranded as a “Bitcoin treasury company.”
Conclusion
Fold’s public listing marks a milestone in integrating cryptocurrency services with traditional financial markets. With its innovative products and strategic partnerships, Fold is poised to play a pivotal role in the mainstream adoption of Bitcoin financial services.
Disclaimer: The information provided on or accessed through TrueToCrypto.com (the “Website”) is for general informational purposes only and is obtained from independent sources that are believed to be reliable. However, TrueToCrypto.com, its owners, affiliates, officers, employees, and agents (collectively, “We,” “Us,” or “Our”) make no representations or warranties, express or implied, as to the accuracy, completeness, timeliness, reliability, or suitability of the information contained on or accessed through this Website. Further read Disclaimer.
