PHOENIX, May 27, 2026 (GLOBE NEWSWIRE) -- Fold Holdings, Inc. (NASDAQ: FLD) (“Fold” or the “Company”), a bitcoin financial services company making it easy for individuals to earn, save and spend bitcoin through everyday financial tools, today announced it has entered into a four-year, senior secured revolving credit facility with Encina Lender Finance, LLC (“Encina Lender Finance”). The facility includes an uncommitted accordion feature providing for a maximum facility size of $150 million (the “Encina Facility”).
Secured by a pool of consumer credit card receivables, the Encina Facility provides dedicated, scalable growth capital to support continued origination volume as cardholder demand builds. Fold expects the Encina Facility to meaningfully extend the runway of the card program and position the Company to meet accelerating demand without diluting equity.
The Encina Facility supports the ongoing rollout of the Fold Bitcoin Credit Card, which the Company has begun issuing to a portion of its waitlist members. Fold is expanding the rollout to additional waitlist members in scheduled batches over the coming weeks and months, with the goal of reaching broad distribution. The Encina Facility gives Fold the origination infrastructure to scale the program methodically while maintaining the highest possible cardholder experience.
The Fold Bitcoin Credit Card extends Fold's existing bitcoin rewards model into a full credit card product. Rewards are denominated exclusively in bitcoin and are designed to be simple and transparent, integrated seamlessly with the Fold App. Issued on the Visa network and powered by Stripe Issuing, the card delivers up to 4%* bitcoin back on eligible purchases, with additional rewards available through Fold's partner network. The card can be used at 175 million Visa-accepting merchants and is designed to work seamlessly across everyday spending while integrating into the broader Fold ecosystem.
Will Reeves, Chairman, CEO and Co-Founder of Fold, commented, “Securing this facility from Encina Lender Finance gives us the capital to meaningfully expand the distribution of the Fold Credit Card. With each phase of the rollout, Fold is moving closer to its goal of becoming the nation's personal finance hub for the Bitcoin economy.”
Geoff Beard, CEO and Chief Investment Officer of Encina Lender Finance, stated, “We are excited to partner with Fold to scale its Bitcoin Credit Card on a national basis. The opportunity fits well with our core expertise at the intersection of specialty finance, financial technology, and asset-based private credit investing.”
Benefits of the Fold Bitcoin Credit Card:
- Up to 4% back* in bitcoin rewards when you combine an unlimited 1.5%* base rate with behavior-based boosts and targeted offers
- Real-time view of your spending and rewards in the Fold App including pending and posted bitcoin, statements and payments
- Pay your bill with bitcoin and earn an extra 0.5% back on that payment, on top of the rewards you already earned from spending
- Instant controls in your pocket: lock and unlock your card, replace it if it's lost or stolen, and get proactive fraud alerts
- Start using your card instantly with a virtual card and Apple Pay / Google Pay
- Make payments from Fold Checking or a linked bank, with one-time payments or autopay In-app services to dispute charges, track status and download statements
Individuals interested in future access to the Fold Bitcoin Credit Card can sign up for the waitlist at foldapp.com/credit-card.
About Fold
Fold (NASDAQ: FLD) is the first publicly traded bitcoin financial services company, making it easy for individuals and businesses to earn, save, and use bitcoin. Fold is at the forefront of integrating bitcoin into everyday financial experiences. Through innovative products like the Fold App, Fold Credit Card™, Fold Bitcoin Gift Card™, and Fold Debit Card™, the company is building the bridge between traditional finance and the bitcoin-powered future.
About Encina Lender Finance
Encina Lender Finance (“ELF”) is an independent specialty finance private credit investment firm that offers senior credit facilities and forward flow purchase programs to emerging and established specialty finance companies. ELF targets asset-based finance (“ABF”) investments in granular pools of short-to-medium duration assets in the commercial and consumer finance sectors. In addition, ELF provides first-out and cross-collateralized NAV facilities to like-minded specialty finance ABF investors. ELF operates on a national scale from offices in Atlanta, Dallas, Los Angeles, New York, and San Francisco.
For investor inquiries, please contact:
Orange Group
Samir Jain, CFA
[email protected]
For media inquiries, please contact:
Cindy Stoller
Confluence Partners, LLC
917-331-0418
[email protected]
[email protected]
Forward-Looking Statements:
The information in this press release includes “forward-looking statements” within the meaning of the federal securities laws. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements may be identified by the use of words such as “may,” “could,” “would,” “should,” “predict,” “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include information about the rollout and terms of our credit card program. These statements are based on assumptions and on the current expectations of Fold’s management and are not predictions of actual events. Many actual events and circumstances are beyond the control of Fold. These forward-looking statements are subject to a number of risks and uncertainties, including: (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) volatility in the valuation of bitcoin; (iii) our continued ability to implement business plans and appropriate technology infrastructure; (iv) our continued access to and cooperation with necessary third party partners, including lenders; and (v) those factors discussed in Fold’s filings with the Securities and Exchange Commission. If any of these risks materialize or Fold’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While Fold may elect to update these forward-looking statements at some point in the future, Fold specifically disclaims any obligation to do so, except as required by law.
Credit Card Disclosure:
*Cardholders earn 1.5% back in bitcoin on eligible net purchases with no cap and can earn additional rewards on the first $2,000 in monthly purchases by setting up recurring bitcoin purchases (DCA) or Direct-to-Bitcoin transfers through Fold, and an additional bonus up to 0.5% when paying a statement using bitcoin held in a Fold account, for a maximum potential rate of 4%. Bonus categories, earning rates, and offer availability are subject to change and may be capped or limited in duration. Rewards are paid in bitcoin. Bitcoin value fluctuates and rewards may be worth more or less at redemption than when earned. See Cardholder Agreement and Rewards Program Terms for complete details, including earning exclusions, limitations, and tier requirements. The Fold Bitcoin Credit Card™ is issued by Celtic Bank, pursuant to a license from Visa U.S.A. Inc. Credit subject to approval. Rewards are provided by Fold, not Celtic Bank.