Today 14% of consumers in the U.S. have invested in crypto — interest in this new asset class and its earnings potential is higher than ever. Marqeta partner Fold is on a mission to increase that number significantly with its debit card that enables users to earn crypto on every purchase instead of traditional cash back, points, or miles. Prior to its launch, Fold reports that it had a waitlist of over 250 thousand, a testament to the growing number of crypto-curious consumers.
Fold enables its customers to earn Bitcoin on everyday activities, including spending, saving and investing, and they do this through a unique, gamified[a] experience. Each time the card is swiped, users are prompted to spin a post-purchase rewards wheel within an allotted time frame and have the opportunity to win up to 100% of their purchase back in Bitcoin or even win a whole Bitcoin. With these types of rewards, users who may not have experience with crypto have the opportunity to earn it simply by spending their fiat funds on a card.
Marqeta had the opportunity to sit down with the CEO of Fold, Will Reeves, at the FinTech Talents Embedded Finance North America conference in August. We learned more about Fold’s mission and discussed how they are leveraging modern card issuing to bring their crypto vision to the world.
You can access the entire interview at FinTech Talents here.
You can also hear directly from Fold on November 10th via our Developer Community AMA with our additional crypto partners.