Fold, a Bitcoin-focused firm, rang the Nasdaq Opening Bell, launching its IPO under the ticker FLD. Shares rose 18% to $4.67 post-launch. Fold’s app rewards credit card purchases with Bitcoin cashback. The company partnered with Visa for global expansion and merged with SPAC for a swift public listing.
In a significant development on May 2, 2025, the Bitcoin-focused firm, Fold, rang the Nasdaq Opening Bell at its headquarters, marking a pivotal moment for cryptocurrency firms in the financial arena. Today also saw the official launch of Fold’s IPO, with shares trading under the ticker “FLD.” This positions Fold as the first publicly traded entity in the United States focused entirely on providing Bitcoin financial services.
The response from investors was nearly immediate and very positive, as shares surged by over 18%, reaching $4.67 at the time of reporting. This reaction underscores the growing interest in cryptocurrency and how firms like Fold are becoming integral to the evolving financial landscape. Fold operates a Bitcoin rewards app that incentivises credit card usage by providing cashback in Bitcoin for purchases, allowing users to withdraw their earned Bitcoin to personal wallets.
Fold has strategically collaborated with major credit card networks since 2023, including a noteworthy partnership with Visa. This alliance has facilitated expansion efforts into markets such as Europe, Latin America, and Asia-Pacific, where cryptocurrency use is steadily increasing. The cashback model utilised by Fold mirrors traditional credit card rewards, offering users a small proportion of their expenditure back, this time in Bitcoin, to attract a broader customer base.
For clarity, Fold’s path to going public began with a merger on February 19 with the FTAC Emerald Acquisition Corp, a Special Purpose Acquisition Company (SPAC). This route has gained popularity among private firms looking for a quicker and potentially less cumbersome way to access public markets compared to traditional IPOs. The merger is reflective of a growing trend embracing innovative financial mechanisms in the crypto space.
In related news, investor interest in cryptocurrency continues to rise, exemplified by figures like Michael Saylor, who is behind ambitious plans for an $84 billion Bitcoin investment. This further affirms the optimistic outlook surrounding cryptocurrency adoption and its integration into established financial systems.
