There’s a new crypto company headed for the Nasdaq. And they have a unique vision to disrupt traditional payment rewards.

‍What’s happening:‍

• Bitcoin rewards and payments company Fold has announced they will go public on the Nasdaq through a SPAC transaction with FTAC Emerald Acquisition
  

How it works:‍

• Fold is a payments company that operates a debit card which offers users rewards in Bitcoin instead of cash
  
• Fold also enables users to earn Bitcoin rewards on bill payments and gift card purchases
  

By the numbers:‍

• The new SPAC deal values Fold at $365M USD
  
• Fold currently owns approximately $67M USD worth of Bitcoin
  
• Fold has processed $2B USD in total transaction volume and distributed more than $45M USD in Bitcoin rewards to users
  

Going deeper:‍

• Fold’s debit card is powered by Visa (NYSE: V) and also allows users to purchase Bitcoin directly, without any fees or costs
  
• The concept of leveraging Bitcoin as a payment method has been gaining momentum recently, notably with Bitcoin Well (TSXV: BTCW) seeing significant user growth for enabling Canadian users to be able to pay bills with Bitcoin directly from their own self custody wallet

‍