Key Points:
Bitcoin company Fold submitted an S-4 filing to the SEC in preparation for going public on NASDAQ.
Since its founding in 2019, Fold has processed over $2 billion in volume and holds over 1,000 BTC in its corporate treasury.
Fold, one of the pioneering Bitcoin financial services companies, will go ahead and pursue a listing. The company has filed an S-4 with the US SEC and intends to list on NASDAQ.
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Bitcoin Company Fold Preparing for NASDAQ Listing
While the final ticker is not yet revealed, expectations have it that Fold would list as “FOLD” once the SEC gives the go-ahead word.
Bitcoin company Fold was founded in 2019 and has emerged as one of the United States’ most rapidly expanding platforms for Bitcoin-based financial services. Some of its offerings include a cashback debit card that pays out rewards in Bitcoin, buying and selling Bitcoin directly through its app and options to earn Bitcoin rewards with regular spending and bill payments.
The company has positioned itself as a competitor to Block’s Cash App, in part because it offers many of the same functionalities, including the ability to transact in Bitcoin and rewards based on cryptocurrency.
Fold has been on a high, processing more than $2 billion in volume and distributing upwards of $45 million in Bitcoin rewards across its lifetime so far. Currently, its corporate treasury holds upwards of 1,000 BTC. As it eyes the public market, it will join other major Bitcoin-holding public companies such as MicroStrategy, which has amassed 252,220 Bitcoins, presently valued at approximately $15 billion.
Fold to Expand Bitcoin Services Amid Planned IPO Approval
The public listing announced for the first time in July, shows the ambition of Bitcoin company Fold for further scaling. with its product suite keeps changing. Recently, Fold added features like Bitcoin bill payments and purchase round-ups into Bitcoin. In case of success, the IPO will develop Fold’s leading positions in the aggressive Bitcoin financial services market.
While the SEC review is in process, if approved, Fold might soon join the snowballing lineup of crypto-focused firms going public.
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