Fold and Blackhawk Network Bring Bitcoin to Major U.S. Digital Retail Platforms

Rhea-AI Summary

Fold Holdings (NASDAQ: FLD) has partnered with Blackhawk Network (BHN) to expand the distribution of its Fold Bitcoin Gift Card™ across major U.S. digital retail platforms. The partnership leverages BHN's extensive network of 400,000+ consumer touchpoints to make bitcoin more accessible to mainstream consumers.

The Fold Bitcoin Gift Card, launched in May 2025, allows consumers to gift bitcoin without requiring technical knowledge or a crypto wallet. The card is currently available through select online platforms and foldapp.com/bitcoin-gift-card, with in-store retail availability planned for later in 2025. Recipients can redeem their gift cards through the Fold App, ensuring a seamless onboarding experience.

The initiative targets the $300 billion U.S. gift card market, with 47% of executives expecting growth in crypto gift cards as a category in 2025.

Positive

• Strategic partnership with Blackhawk Network provides access to 400,000+ consumer touchpoints
• Entry into the $300 billion U.S. gift card market
• Expanding distribution channels through major U.S. digital retailers
• Strong market potential with 47% of executives expecting crypto gift card category growth

Negative

• In-store retail availability not yet implemented
• Limited to select online platforms initially

Insights

Fintech Innovation Analyst

Fold's partnership with Blackhawk Network significantly expands Bitcoin gift card distribution, potentially driving substantial transaction growth and mainstream adoption.

This strategic partnership between Fold and Blackhawk Network represents a significant distribution breakthrough for bitcoin accessibility. By integrating into BHN's network of 400,000+ consumer touchpoints, Fold is effectively solving one of cryptocurrency's persistent challenges: mainstream retail distribution.

The $300 billion U.S. gift card market provides Fold with an enormous addressable market. Traditional gift cards enjoy widespread consumer familiarity, making them an ideal vehicle for introducing bitcoin to non-technical users. This approach cleverly bypasses the typical friction points in cryptocurrency onboarding - wallet creation, security concerns, and technical complexity.

From a business perspective, this positions Fold to capture transaction revenue across multiple channels. The phased rollout (starting with select online platforms before expanding to in-store retail) suggests a measured approach to scaling. Each new retail integration represents an incremental revenue opportunity and customer acquisition channel.

The timing aligns with emerging industry trends, with 47% of executives expecting growth in crypto gift cards. This market validation suggests Fold is targeting a genuine consumer demand rather than creating a solution searching for a problem.

Most importantly, this partnership leverages existing consumer behavior rather than requiring new habits. By embedding bitcoin into familiar gift card purchasing flows, Fold eliminates adoption barriers while potentially accelerating transaction volume across BHN's extensive network. This could drive meaningful revenue growth as distribution expands to additional retailers in the coming months.

PHOENIX, July 31, 2025 (GLOBE NEWSWIRE) -- Fold Holdings, Inc. (NASDAQ: FLD) (“Fold” or the “Company”), the first publicly traded bitcoin financial services company, today announced it has teamed up with Blackhawk Network, Inc. (BHN) to expand distribution of the Fold Bitcoin Gift Card™, significantly increasing mainstream consumer access to bitcoin across a growing portfolio of major U.S. digital retailers. The offering marks a key milestone in bringing bitcoin into everyday commerce and positions Fold to meaningfully increase user and transaction growth through one of the nation's most extensive retail distribution networks.  

The Fold Bitcoin Gift Card is now available through select online platforms, with additional online retailers set to launch in the coming weeks. The card is also available directly at foldapp.com/bitcoin-gift-card. In-store retail availability is planned for later this year as part of a broader multi-channel expansion strategy.

The launch is powered by BHN, a leading branded payments provider whose global footprint spans over 400,000+ consumer touchpoints, including top retailers, e-commerce platforms, loyalty programs and enterprise rewards. Fold is rapidly expanding within this ecosystem, positioning the Fold Bitcoin Gift Card to become one of the most broadly distributed bitcoin gift products in the U.S. market.

“Until now, bitcoin was difficult for the average person to access, let alone share,” said Will Reeves, Chairman and CEO of Fold. “By making bitcoin available as a gift card, we’re opening access to the millions of consumers who already buy, send, and use gift cards. This isn’t about novelty. It’s about meeting people where they are and integrating bitcoin into the financial tools and channels they already understand. We're building infrastructure for everyday adoption. BHN gives us that path into mainstream retail, opening access to bitcoin across the $300 billion U.S. gift card market, something the ecosystem has struggled with for over a decade.”

The Fold Bitcoin Gift Card launched in May 2025, enabling consumers to gift bitcoin in a simple and familiar format without requiring technical knowledge or a crypto wallet. Recipients redeem their gift card through the Fold App, ensuring a smooth onboarding experience for both newcomers and experienced bitcoin users.

“At BHN, we understand that consumers today expect more flexibility in how they give and store value, and cryptocurrencies like bitcoin are becoming part of that equation,” said Jennifer Philo, GVP, global commerce, BHN. “Fold exemplifies the kind of forward-looking partner BHN is proud to support—they are creating products that bring bitcoin into the center of how consumers engage with money and build long-term value. By bringing the Fold Bitcoin Gift Card into our expansive retail ecosystem, we’re delivering yet another practical, accessible way for shoppers nationwide to embrace cryptocurrency by helping them earn, save, and spend smarter.”

Momentum is building for crypto-based gifting. According to the Incentive Gift Card Coalition, 47% of executives expect crypto gift cards to grow as a category in 2025, reflecting a broader shift in consumer preferences toward digital assets.

About Fold
Fold (NASDAQ: FLD) is the first publicly traded bitcoin financial services company, making it easy for individuals and businesses to earn, save, and use bitcoin. With over 1,492 BTC in its treasury, Fold is at the forefront of integrating bitcoin into everyday financial experiences. Through innovative products like the Fold App, Fold Credit Card™, Fold Bitcoin Gift Card™, and Fold Debit Card™, the company is building the bridge between traditional finance and the bitcoin-powered future.

About Blackhawk Network (BHN)
Today, through BHN’s single global platform, businesses of all kinds can tap into the world’s largest network of branded payment solutions. BHN helps businesses grow revenue, increase loyalty, motivate and reward their teams, disburse funds and engage consumers. Branded payment solutions include the issuance and distribution of gift cards, eGifts, corporate payouts and rewards, along with the technology to deliver these products in seamless, integrated ways. BHN’s network spans the globe with more than 400,000 consumer touchpoints. Learn more at BHN.com.

For investor inquiries, please contact:
Orange Group
Samir Jain, CFA
FoldIR@orangegroupadvisors.com

For media inquiries, please contact:
Jessica Starman, MBA
media@foldapp.com

FAQ

What is the partnership between Fold Holdings (NASDAQ: FLD) and Blackhawk Network?

Fold Holdings has partnered with Blackhawk Network to distribute its Bitcoin Gift Card across major U.S. digital retail platforms, accessing over 400,000 consumer touchpoints.

When will Fold Bitcoin Gift Cards be available in retail stores?

Fold Bitcoin Gift Cards are planned for in-store retail availability later in 2025 as part of their multi-channel expansion strategy.

How does the Fold Bitcoin Gift Card work?

The Fold Bitcoin Gift Card allows consumers to gift bitcoin without technical knowledge. Recipients can redeem their gift cards through the Fold App, providing a smooth onboarding experience.

What is the market potential for Fold's Bitcoin Gift Card?

The initiative targets the $300 billion U.S. gift card market, with 47% of executives expecting growth in crypto gift cards in 2025.

Where can I purchase a Fold Bitcoin Gift Card?

Fold Bitcoin Gift Cards are currently available through select online platforms and directly at foldapp.com/bitcoin-gift-card.