Fold Launches Bitcoin Rewards Card and Business Platform

The latest update is out from Fold Holdings ( (FLD) ).

In 2025, Fold reported revenue of $31.8 million, up 34% year over year, on transaction volumes of $960 million, while narrowing losses remained a focus as operating loss reached $27.7 million and adjusted EBITDA loss was $17.2 million. The Phoenix-based company, which closed 2025 with about 84,000 verified accounts and 1,527 bitcoin in its investment treasury, also retired its convertible notes and, in early 2026, launched a bitcoin rewards credit card and Fold for Business enterprise services, moves aimed at expanding its addressable market, improving unit economics and signaling a shift away from being viewed primarily as a digital asset treasury play.

During the fourth quarter of 2025, Fold generated $9.1 million in revenue, an 8% increase from the prior-year period, while total transaction volume slipped 3% to $215 million as account growth moderated with a net addition of 2,000 verified users. Management highlighted that the new Visa- and Stripe-powered bitcoin rewards credit card, together with the bitcoin gift card distribution through online channels and roughly 2,000 Kroger locations and the inaugural Fold for Business partnership with Steak ’n Shake, sets the stage for 2026 to focus on scaling customer acquisition, cross-selling and enterprise contracts despite the company withholding specific revenue guidance.

The most recent analyst rating on (FLD) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on Fold Holdings stock, see the FLD Stock Forecast page.

Spark’s Take on FLD Stock

According to Spark, TipRanks’ AI Analyst, FLD is a Neutral.

The score is primarily held back by weak underlying operating economics and ongoing cash burn despite strong revenue growth and an improved, debt-free balance sheet. Technicals also remain negative with the stock trading below key moving averages and a negative MACD, while valuation is difficult to support due to a negative P/E and no dividend data.

To see Spark’s full report on FLD stock, click here.

More about Fold Holdings

Fold Holdings, Inc., listed on Nasdaq as FLD, is a bitcoin-focused financial services company that enables individuals and businesses to earn, save and spend bitcoin through products such as the Fold App, Fold Bitcoin Gift Card and Fold Debit Card. Positioned as a bridge between traditional finance and a bitcoin-powered future, the company targets consumers and enterprises seeking to integrate bitcoin into everyday payments, rewards and corporate financial programs.

In 2025, Fold reported revenue of $31.8 million, up 34% year over year, on transaction volumes of $960 million, while narrowing losses remained a focus as operating loss reached $27.7 million and adjusted EBITDA loss was $17.2 million. The Phoenix-based company, which closed 2025 with about 84,000 verified accounts and 1,527 bitcoin in its investment treasury, also retired its convertible notes and, in early 2026, launched a bitcoin rewards credit card and Fold for Business enterprise services, moves aimed at expanding its addressable market, improving unit economics and signaling a shift away from being viewed primarily as a digital asset treasury play.

During the fourth quarter of 2025, Fold generated $9.1 million in revenue, an 8% increase from the prior-year period, while total transaction volume slipped 3% to $215 million as account growth moderated with a net addition of 2,000 verified users. Management highlighted that the new Visa- and Stripe-powered bitcoin rewards credit card, together with the bitcoin gift card distribution through online channels and roughly 2,000 Kroger locations and the inaugural Fold for Business partnership with Steak ’n Shake, sets the stage for 2026 to focus on scaling customer acquisition, cross-selling and enterprise contracts despite the company withholding specific revenue guidance.

Average Trading Volume: 147,528

Technical Sentiment Signal: Sell

Current Market Cap: $59.9M

For an in-depth examination of FLD stock, go to TipRanks’ Overview page.