Fold
Bitcoin-rewards card; public co (FLD).
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Partner bank (Sutton Bank) issues Fold Visa prepaid card; BTC via Fortress Trust, BitGo-insured custody.
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Fold’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | hybrid |
| HQ | Phoenix, US |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Partner bank (Sutton Bank) issues Fold Visa prepaid card; BTC via Fortress Trust, BitGo-insured custody |
| Card | Visa · Prepaid + credit |
| Cashback | BTC rewards |
| Yield | BTC on savings |
| Stablecoins | No |
| KYC | Yes |
| Active regions | North America |
| Countries | United States |
| Founders | Will Reeves |
| Funding | Public (FLD) |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @fold_app ↗
Common questions about Fold
What is Fold?
Fold is a fiat-and-crypto neobank, headquartered in Phoenix, US and founded in 2019. Your money is held custodially, so Fold or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Partner bank (Sutton Bank) issues Fold Visa prepaid card; BTC via Fortress Trust, BitGo-insured custody).
Does Fold have a card, and where can you use it?
It issues a Visa prepaid and credit card. It is available in North America.
Does Fold require KYC?
Yes. Fold requires identity verification (KYC) to open an account, as a partner-bank model.
What does Fold cost?
From the verified fields: cashback BTC rewards; yield BTC on savings. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Fold before relying on them.
Early investors
Peers
Revolut · Cash App · Mogo · Venmo · Robinhood · Crypto.com
Fold appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in North America (126) · Neobanks that issue a Visa card (182) · Neobanks in United States (66)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.