Fold, Inc., a top bitcoin financial services provider, is merging with FTAC Emerald Acquisition Corp., a special purpose acquisition company. This exciting deal will list Fold on NASDAQ, enhancing its role in making bitcoin a part of everyday financial services.
Since starting in 2019, Fold has processed over $2 billion in transactions and given out $45 million in bitcoin rewards, showing its dedication to making bitcoin accessible to everyone.
Will Reeves, CEO of Fold, and Bracebridge Young, Jr., President of FTAC Emerald, are both thrilled about the merger’s potential to make wealth-building more accessible.
The deal, set to finalize in Q4 2024, values Fold at $365 million before the transaction and expects to have over 1,000 BTC on its balance sheet afterward. This move will help Fold grow faster, using its popular bitcoin rewards program and expanding its financial services.
After the merger, Fold plans to add more services like credit, lending, and insurance, all in line with bitcoin’s growth. The current management team at Fold will continue to lead the company, ensuring they stick to their vision and strategy of expanding access to bitcoin-powered financial solutions.
