Fold Holdings Inc
foldapp.comWhat Do They Do?
Offers consumers a financial app combining everyday banking and payment services with bitcoin rewards and buying, selling and custody services.
10-K for FY2025, filed Mar 17, 2026Fold has built a banking and payments platform that operates across both U.S. dollars ("USD") and bitcoin, and is designed to connect these…View ↗
Fold’s consumer offerings include an FDIC-insured checking account, a Visa prepaid debit card, bill payment services, a bitcoin rewards…View ↗
Custody & TradingView ↗
How Do They Make Money?
Consumers pay monthly or annually for Fold+; Fold also earns fees from debit-card transactions and resells merchant gift cards at face value. On bitcoin trades, it earns transaction fees and spreads.
10-K for FY2025, filed Mar 17, 2026Fold offers a premium membership tier of our platform called “Fold+”, which requires an annual or monthly prepayment depending on the…View ↗
Qualified Fold customers may sign up for the Fold Debit Card, which is a prepaid Visa debit card issued by Sutton Bank (“Sutton”). Through…View ↗
Fold customers can earn rewards from various merchant offers, including third-party gift cards and card-linked merchant offers, on the Fold…View ↗
Fold partners with BitGo Trust Company, Inc. (“BitGo” or the “Exchange Provider”) to offer eligible customers the ability to buy, sell…View ↗
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10-K for FY2025, filed Mar 17, 2026
FY2025 revenue by product or service ↗
$31.8M
-
10-K for FY2025, filed Mar 17, 2026
$31.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Banking and payment revenues
|
95% |
Banking and payment revenues, FY2025
$30.3M Sources
|
|
|
Custody and Trading Revenues
Usage-based
|
4.6% |
Custody and Trading Revenues, FY2025
$1.5M Sources
|
Usage-based |
|
Other revenues
|
0.2% |
Other revenues, FY2025
$63.7K Sources
|
Who Are Their Customers?
Individual consumers use the Fold app for banking and bitcoin services; gift cards are distributed through retail and online partners, while employers can offer Fold bitcoin benefits to workers.
10-K for FY2025, filed Mar 17, 2026Fold is building infrastructure and distribution channels to support this transition. In addition to its direct-to-consumer platform, Fold…View ↗
Fold’s products and services are available in the United States through the Fold mobile application (the “Fold App”).View ↗
The Fold Bitcoin Gift Card is distributed through a network of retail and digital partners, including a major grocery chain and various…View ↗
In order to access all Fold related services, users must first download the Fold App from either the Apple or Google app store. Upon…View ↗
Do Revenues Turn Into Profits?
No. It lost $69.6M in FY2025.
10-K for FY2025, filed Mar 17, 2026
10-K for FY2025, filed Mar 17, 2026
−$69.6MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 11, 2026
−$9.7MView ↗
- ▼ Now a loss
- vs $13.4M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 11, 2026
Open tableView ↗
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Aug 6, 2026
Fold selected Lead Bank as its new banking partner
The bank will support accounts, deposits, withdrawals and bitcoin trading; expanded customer features are planned in phases.
Sources
8-K, filed Aug 6, 2026
The first publicly-traded bitcoin financial services company, Fold has partnered with Lead Bank to strengthen its banking foundation and…View ↗
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Jul 17, 2026
Nasdaq notified Fold of a minimum bid-price deficiency
Trading continued, with an initial compliance period through January 11, 2027 to regain the required bid price.
Sources
8-K, filed Jul 17, 2026
The Letter has no effect on the listing of our Common Stock, and our Common Stock will continue to trade on Nasdaq. In accordance with…View ↗
From blank check to consumer platform
The older report presents a blank-check company that had not begun operations and was seeking a business combination; the latest describes a consumer bitcoin financial-services platform with banking, payments and bitcoin products.
10-K for FY2022, filed Mar 29, 2023 10-K for FY2025, filed Mar 17, 2026
Who Do They Compete With?
Competes with Block, Robinhood Markets, Coinbase Global, Payward, Fidelity Crypto, and PayPal Holdings
10-K for FY2025, filed Mar 17, 2026Across our product lines we compete with various financial services providers like Block, Inc., Robinhood Markets, Inc., Coinbase Global…View ↗
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