#United States #New York #Bitcoin #Fold #Thesis*

Fold's Historic Nasdaq Debut

In a monumental stride for the world of cryptocurrency, Fold Holdings Inc. has officially become the first Bitcoin financial services company to go public on the Nasdaq Stock Market. This significant milestone marks a new chapter not just for Fold but also for Bitcoin-native financial innovation as a whole.

Fold's public listing under the ticker symbols FLD (common stock) and FLDDW (warrants) is a testament to the company's substantial growth and influence in the banking of the future. Launched in 2014 by Thesis, the venture studio renowned for incubating impactful Bitcoin-native financial products, Fold has transformed the way users earn, save, and spend Bitcoin in their daily lives.

Matt Luongo, the founder and CEO of Thesis, remarked, "This is not just a milestone for Fold—it's a validation of our venture studio model and our commitment to developing Bitcoin-native financial tools. Fold's Nasdaq listing is a major moment in bringing that vision to life."

The Journey to Public Listing

The inception of Fold stemmed from a desire to tackle the barriers surrounding Bitcoin adoption. As Bitcoin was devised primarily as a peer-to-peer payment system, many users hesitated to use their cryptocurrency for everyday transactions. Observing these challenges, Thesis pivoted its strategy to make Bitcoin accumulation seamless through an innovative rewards program.

Thus, Fold emerged as a Bitcoin rewards platform, allowing users to earn small units of Bitcoin—known as satoshis—on everything from credit card purchases to gift cards. The platform partners with major payment networks, such as Visa, enabling users to directly reap Bitcoin rewards in their transactions.

Recognizing its potential, Thesis strategically decided to spin off Fold, establishing it as an independent entity and appointing Will Reeves as CEO. Under this new structure, Fold continued benefiting from Thesis' extensive expertise in Bitcoin finance while enjoying the freedom necessary for innovation.

The Power of Going Public

Will Reeves expressed his enthusiasm regarding the company's public debut, stating, "Going public is a testament to the growing role of Bitcoin in the global financial system. Our Nasdaq listing brings us one step closer to making finance open, inclusive, and built on Bitcoin."

This was further solidified by a $13 million Series A funding round in 2021, led by Craft Ventures, alongside contributions from other prominent venture capitalists. This series of successes not only provided the financial backing but also validated the venture studio model pioneered by Thesis.

In 2024, Fold took another key step by merging with FTAC Emerald Acquisition Corp., a special purpose acquisition company (SPAC) backed by Cohen Circle. This strategic move brought essential capital and institutional support, ultimately contributing to the historic Nasdaq listing.

Looking Ahead: The Future of Bitcoin Finance

The journey of Fold does not end here. As a frontrunner in Bitcoin financial services, Fold has set a precedent that may drive broader Bitcoin adoption within mainstream markets. However, Thesis is already gearing up for the next wave of innovations in Bitcoin-native finance.

Luongo stated, “As we celebrate Fold’s success, we are already building the infrastructure for more Bitcoin-native financial products. Our upcoming project, Mezo, aims to tackle vital components like Bitcoin-backed lending and borrowing, empowering users to leverage their Bitcoin without having to sell it.”

About Thesis

Thesis is dedicated to creating transformative Bitcoin-native financial solutions designed to empower individuals while advancing open finance principles. With a strong history of incubating successful companies like Fold and exploring new avenues of Bitcoin technology, the venture studio is poised to continue shaping the future of financial services.

About Fold

Fold serves as the leading Bitcoin rewards and financial services platform, seamlessly integrating Bitcoin into everyday transactions. By fostering user participation in the Bitcoin economy, Fold allows individuals to engage with cryptocurrency easily and with minimal risk or complexity.

For further insights, visit Thesis or Fold.