The publicly traded Bitcoin financial services company Fold has recently announced its Fold Bitcoin Gift Card as a “convenient” way for consumers to purchase and share BTC.
According to the press release, the card is built with Fold’s proprietary technology. It provides a straightforward method for buying and gifting Bitcoin. The product makes these actions “as simple as purchasing a traditional gift card.”
Furthermore, the Fold Bitcoin Gift Card is already available through Fold’s website. In the coming months, the company plans to expand the availability of the new product to online and physical retail locations across the US.
Will Reeves, Chairman and CEO of Fold, says that Fold’s mission is to make BTC simple and approachable for everyone. “The Bitcoin Gift Card brings bitcoin to millions of Americans in a familiar way. Available at the places people already shop, the Bitcoin Gift Card is the best way to gift Bitcoin to others.”
The team has further highlighted that gift cards are a $300 billion market. Moreover, 84% of consumers a year transact with them.
“Inspired by the success of alternative financial assets in retail, such as Costco’s $200 million in monthly gold sales, Fold is paving the way for bitcoin to be integrated into the traditional gift card market,” the company says.
Gifting Between $25 and $500 in BTC
Fold has developed the Bitcoin Gift Card in partnership with Totus, a provider of gift card issuance and program management services. Totus has access to over 150,000 points of distribution nationwide, they claim.
Therefore, it will enable Fold to distribute the card to retailers broadly. At the same time, it will allow these retailers to reach new customers and reward existing ones.
“The Fold bitcoin gift card is an easy and convenient way to buy bitcoin for friends, family, and anyone you want to introduce to bitcoin,” the website says. Also, bulk orders are available for teams, employees, or clients.
The buyer can choose a set amount between $25 and $500.
Source: FoldTo redeem the card, the receiver needs a Fold account registration and verification. Funds will go directly into the Bitcoin balance with Fold. From there, owners can send the funds to any on-chain Bitcoin address.
Meanwhile, Fold has over 1,485 BTC in its treasury. It says it aims to integrate BTC into everyday financial experiences via its products like the Fold App, Fold Credit Card, Fold Card, and now Bitcoin Gift Card.
Recently, Fold’s leadership team rang the Nasdaq Opening Bell at the Nasdaq MarketSite in Times Square, New York, USA, to celebrate its recent public listing.
Reeves commented that ringing the bell at Nasdaq is “a celebration of the journey from Bitcoin’s edges to the heart of global finance.”
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