Bitcoin rewards company Fold and payments giant Visa have announced a collaborative project to expand crypto adoption through their products.
Popular Bitcoin rewards company Fold announced an extension of its partnership with reputed payment company Visa to expand in newer regions and promote its products. The latest move between the two is expected to drive crypto adoption and increase awareness of blockchain in these regions.
Fold already has a debit card backed by Visa for its Bitcoin rewards program. After the announcement, Visa is stated to become its exclusive global partner for its products. The regions where Fold’s debit card and other products operate include Europe, North America and Latin American countries.
“In order to meet the growing demand for Bitcoin onramps outside the U.S., we’re thrilled to expand our engagement with Visa. We believe that Bitcoin can be a powerful tool for people all over the world to take control over their finances, and we are committed to making Bitcoin as easy and accessible as possible for everyone,” said the CEO of Fold, Will Reeves. Senior officials of Visa also welcomed the move and spoke about the importance of digital assets and crypto in the future of financial services.
The partnership is also expected to help local financial services companies in the newer regions to use Fold’s products and expand their own operations. Over the years, Fold has built a robust Bitcoin rewards infrastructure partnering with technology companies, fintechs and banks. It is also open to new global partners.
In spite of a few phases of stress in the crypto market in the past, Visa has continued its efforts to help crypto adoption rise globally and expand the future of the blockchain ecosystem.