Fold, a Nasdaq-listed Bitcoin financial services firm, has officially launched the Fold Bitcoin Gift Card, aiming to bring Bitcoin closer to mainstream retail through a familiar format. Announced on May 17, the new product provides a simplified way for consumers to purchase and gift Bitcoin using a traditional gift card format, with denominations ranging from $25 to $500.
According to Fold, the Bitcoin Gift Card was developed using the company’s proprietary technology, allowing users to acquire Bitcoin without the complexities of conventional crypto exchanges. Initially available on Fold’s website, the company plans to extend distribution to online and physical retail locations across the US over the coming months.
The launch comes at a pivotal moment for Fold, as the global gift card market is projected to reach $300 billion annually. Will Reeves, Chairman and CEO of Fold, emphasized that the Bitcoin Gift Card is strategically positioned to tap into this lucrative market.
“Gift cards are a massive retail market, with 84% of consumers purchasing or receiving them annually,” Reeves said. “Now, they can also gift Bitcoin in the same format they’ve always used for other financial assets. This is a major step in making Bitcoin a mainstream, approachable financial product.”
Fold’s entry into the gift card market mirrors the success of other alternative financial assets, such as gold, which recently achieved $200 million in monthly sales at Costco. By offering Bitcoin in a similar retail-friendly format, Fold aims to accelerate BTC adoption among everyday consumers.
The Bitcoin Gift Card was developed in partnership with Totus, a leading provider of gift card issuance and management services. With access to over 150,000 distribution points nationwide, Totus will facilitate Fold’s retail expansion and help introduce Bitcoin to a wider audience.
Totus CEO Mark Benton highlighted the importance of reaching mainstream consumers. “Bitcoin is still perceived as a niche asset, but the gift card format changes that perception,” he said. “We’re making it as easy to buy Bitcoin as it is to pick up a Starbucks gift card.”
Redeeming the Bitcoin Gift Card requires recipients to register and verify a Fold account. Once the verification is complete, the Bitcoin balance is credited to the user’s Fold wallet, allowing them to hold, spend, or transfer the BTC to any blockchain address.
In addition to the gift card, Fold’s existing product lineup includes a Bitcoin rewards app, a credit card that offers BTC cashback on every purchase, and a mobile app designed to simplify Bitcoin transactions. The gift card launch is the latest step in Fold’s mission to integrate Bitcoin into everyday financial interactions.
Recently, the company celebrated its Nasdaq public listing by ringing the opening bell at the Nasdaq MarketSite in Times Square, New York. The event underscored Fold’s ambition to bring Bitcoin to the mainstream and to position itself as a leader in Bitcoin financial services.
Reflecting on the milestone, Reeves stated, “Our goal is to bridge the gap between Bitcoin and traditional finance. With the Bitcoin Gift Card, we’re not just making Bitcoin easier to access — we’re making it a part of everyday financial life.”
Fold currently holds over 1,485 BTC in its treasury and continues to develop products that integrate Bitcoin into everyday spending. The company’s Bitcoin Credit Card, for instance, allows users to earn BTC on every transaction, positioning Fold as a prominent player in the growing Bitcoin rewards ecosystem.
Looking ahead, Fold plans to expand the gift card’s reach through its retail partnerships and is exploring further integrations with major US retailers. By doing so, the company aims to position Bitcoin as a mainstream financial asset, accessible to millions of consumers across the country.
