Fold Partners with Blackhawk to Make Bitcoin Accessible
Fold Partners with Blackhawk to Make Bitcoin Accessible
In a significant move to enhance bitcoin access, Fold Holdings, Inc. (NASDAQ: FLD), a pioneer in publicly traded bitcoin financial services, is collaborating with Blackhawk Network, Inc. (BHN). This partnership aims to broaden consumer access to bitcoin through the revolutionary Fold Bitcoin Gift Card™, which significantly expands its availability across major digital retail platforms in the U.S.
Launching the Fold Bitcoin Gift Card
With the launch of the Fold Bitcoin Gift Card, consumers can now easily acquire and gift bitcoin in a familiar format that eliminates the complexities often associated with cryptocurrency. This initiative aims to make bitcoin more accessible to everyone, including those not familiar with the digital currency.
Online and In-Store Availability
Currently, the Fold Bitcoin Gift Card is available through select online retailers, with more platforms set to offer this innovative product in the near future. The card will also be accessible for in-store purchases as part of a broader strategy to reach consumers at various points of sale.
A Strong Retail Network
The collaboration with Blackhawk Network, a leading provider in branded payment solutions, positions the Fold Bitcoin Gift Card to be among the most widely distributed options in the cryptocurrency gift market. BHN’s network boasts over 400,000 consumer touchpoints across top retailers, e-commerce platforms, and loyalty programs, ensuring that bitcoin becomes a viable option for everyday purchases.
Transforming Bitcoin Gifting
Will Reeves, CEO of Fold, shared insights into the importance of this new offering, stating that previously bitcoin was challenging for many to access. By introducing the gift card format, Fold is meeting consumers where they are, allowing them to gift bitcoin seamlessly. This product is not just a novelty; it is a bridge into everyday financial practices for millions of people.
Feedback from Blackhawk Network
Jennifer Philo, Vice President of Global Commerce at BHN, noted that customers are increasingly seeking flexible ways to manage value, with digital currencies becoming a significant part of this shift. Tune into the latest trends shows a growing acceptance of cryptocurrencies like bitcoin as legitimate currency alternatives within the gift card market.
Market Trends Overview
The trend towards crypto-based gifting is gaining momentum. Recent insights indicate that a substantial percentage of executives believe that the category of crypto gift cards will continue to grow as consumer interest in digital assets rises. This further validates the efforts of Fold to integrate with mainstream retail.
About Fold Holdings
Fold (NASDAQ: FLD) stands as a leader in the fintech sector, revolutionizing how users engage with bitcoin. With over 1,492 BTC in its treasury, Fold is committed to making bitcoin a readily available financial tool through various platforms, including the Fold App, the Fold Credit Card™, and now, the Fold Bitcoin Gift Card™.
About Blackhawk Network
Blackhawk Network operates a comprehensive platform that helps businesses harness the power of branded payments. Their solutions span the globe, enabling companies to enhance their revenues and connect with customers through effective payment options. Their expansive network further supports the mission of integrating bitcoin into everyday consumer transactions.
Contact Information
For investor inquiries, reach out to Samir Jain, CFA, at Orange Group via email at FoldIR@orangegroupadvisors.com.
For media inquiries, please contact Jessica Starman, MBA, via email at media@foldapp.com.
Frequently Asked Questions
What does the Fold Bitcoin Gift Card offer?
The Fold Bitcoin Gift Card allows users to gift bitcoin easily without requiring technical knowledge or a crypto wallet.
How can consumers access the Fold Bitcoin Gift Card?
Consumers can purchase the card online through designated platforms and later at physical retail locations.
What is the significance of the partnership with Blackhawk Network?
The partnership enhances the distribution of bitcoin gift cards, making them widely accessible through a vast network of retailers and digital platforms.
How does Fold ensure a smooth experience for new users?
The Fold App provides a straightforward onboarding process for users who redeem their gift cards, making bitcoin accessible to all.
What trends are influencing the bitcoin gift card market?
Trends show an increasing interest in cryptocurrencies, with many businesses recognizing the potential growth in crypto gift card categories among consumers.
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