Fold, a mobile shopping app that supports the Bitcoin Lightning Network, has joined Visa’s Fintech Fast Track program.
Membership in the Fintech Fast Track program will allow the application to launch a new Visa brand card. At the same time, it continues to offer Bitcoin rewards for purchases made at retailers.
Fold is a mobile shopping app that supports the Bitcoin Lightning Network for users to withdraw funds from external Bitcoin wallets. Now Fold will be able to achieve greater opportunities with the support of Visa’s Fast Track program.
Fold users will get a reward in Bitcoin
Now Fold founder Will Reeves conducted a survey.
It showed that 90% of 30,000 Fold users would “trade in their existing card” for a card with Bitcoin rewards for dollars spent.
For his part, he also specified that the waiting list is already open for the Fold card that begins to be sent in July.
Overall, companies that help retail users accumulate Bitcoin have generally performed well during the overall market downturn.
According to Reeves, the goal of this new card is to meet consumers. As well as giving users the ability to accumulate and use Bitcoin in their daily lives.
Visa granted Coinbase membership
Bank card giant Visa has granted its main membership to Coinbase, one of the leading cryptocurrency companies.
This membership eliminates a crucial and costly intermediary from the debit card issuance process that allows users to spend their own Bitcoin, Ether, and Ripple anywhere Visa is accepted.
Fold also allowed its users to collect satoshis by making purchases in currency and Bitcoin with major retailers such as: Amazon, Uber, Starbucks and Hotels.com, with more rewards for users in Bitcoin purchases.
The field of crypto debit cards continues to grow. Promising users a more flexible and familiar “legacy” interface to obtain and access cryptocurrencies. Now having Fold as an ally to spread the use of crypto.
Most importantly, though, the core membership makes Coinbase the first cryptocurrency company with the power to issue debit cards, including other digital currency companies and more traditional companies.
Fold will certainly not be the last team to explore Bitcoin-related credit cards. The Kraken exchange was exploring a Visa card program like Coinbase or Fold.