Overview
- Fold began rolling the Fold Bitcoin Credit Card out to portions of its waitlist and started shipping physical cards to active holders on May 27, 2026, with broader access planned in scheduled batches.
- The company closed a four-year, senior secured revolving credit facility with Encina Lender Finance that can expand to $150 million and is secured by consumer credit card receivables to fund origination capacity.
- The card is issued on the Visa network by Celtic Bank and built on Stripe Issuing, and it pays bitcoin rewards with a 1.5% base rate and up to 4% possible through boosts and bonuses.
- Fold says the facility lets it scale card originations without diluting shareholders, but the company warned that bitcoin price swings and changes in receivables quality could affect rewards value and lender availability.
- The asset-backed revolving structure lets Fold draw as card balances grow and repay as the portfolio turns over, a common funding method in consumer fintech that could speed access for waitlist users and expand everyday bitcoin use.