Bitcoin Rewards App Fold Submits S-4 SEC Filing for IPO as it Adopts FLD Ticker
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
Fold, the pioneering Bitcoin rewards and financial services app has taken a significant step toward going public by submitting an S-4 SEC IPO filing on October 7, 2024.
This is the latest in regards to Fold’s planned merger with FTAC Emerald Acquisition, a special purpose acquisition company (SPAC), as announced in July 2024.
If the merger is approved by stakeholders and regulators, Fold will be publicly listed on the Nasdaq stock exchange under the ticker symbol “FLD.”
This is big for the company as it has processed over $2 billion in transactions and distributed more than $45 million in Bitcoin rewards since its inception in 2019.
Fold’s journey toward becoming a publicly traded company has been driven by its rapid growth and unique value proposition.
As a platform that allows users to earn Bitcoin rewards through everyday spending, Fold has seen tremendous success with its debit card offering, similar to credit card cashback programs.
Users can earn bitcoin when paying for purchases, bills, and other financial obligations, and the app features zero-fee bitcoin trading and insured custody of funds.
In July 2024, Fold announced its merger with FTAC Emerald Acquisition at a pre-money equity valuation of $365 million.
Upon the merger’s completion, Fold will become a wholly owned subsidiary of FTAC Emerald, and the transaction will bolster Fold’s Bitcoin treasury, which currently holds over 1,000 BTC.
This merger aims to support Fold’s operational expansion and further development of Bitcoin financial products, including credit,
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