Fold, Bitcoin Rewards App, to Become Public Company Through Merger
Fold Inc., a bitcoin financial services firm, plans to go public through a merger with FTAC Emerald Acquisition Corp., a SPAC.
The merger, expected to close in Q4 2024, will list Fold on Nasdaq under a new ticker symbol. Founded in 2019, Fold offers bitcoin financial products such as a cashback debit card and merchant rewards, having processed over $2 billion in transactions and distributed $45 million in rewards. The merger aims to accelerate growth, expand Fold’s bitcoin treasury, and enhance its product offerings.
Post-merger, Fold anticipates holding over 1,000 BTC and maintaining its current management team, with CEO Will Reeves at the helm. The transaction awaits regulatory approvals and other conditions.
Clever Robot News Desk 26th July 2024
