Fold Launches Bitcoin Bonus Program for Employers via Fold Business Platform

Fold Launches Bitcoin Bonus Program for Employers

Fold Holdings has launched a new Bitcoin Bonus Program through its Fold Business platform, allowing employers to offer recurring bitcoin-denominated bonuses without modifying existing payroll systems. The initiative is positioned as the first product under the new Fold Business suite.

How the Bitcoin Bonus Program Works

Employers set bonus amounts in U.S. dollars on their standard payroll schedule. Fold then handles the conversion to bitcoin, custody, vesting, and delivery through the Fold app. The program functions as both an employee benefit and a retention tool, enabling workers to track and hold bitcoin over time—transforming immediate cash bonuses into long-term assets.

Vesting schedules are integrated into the program, allowing companies to tie bonus access to employee tenure or performance metrics. Companies designate a recurring USD bonus or allocation aligned with payroll cycles, and Fold executes real-time conversion to bitcoin at distribution. Fold also provides custody and manages vesting, reducing employers’ exposure to digital-asset handling and compliance complexities.

Early Adopters and Target Segments

The program has secured early partners across diverse industries:

• Steak ’n Shake: The flagship partner is offering the Bitcoin Bonus Program to thousands of hourly workers across its U.S. workforce of over 10,000 employees.
• Simple Mining: A bitcoin mining hosting company in Iowa is directing 1% of employee pay into bitcoin through the program, redeemable at year-end. This aligns staff with the asset they support for clients.

Fold Business: A Broader B2B Strategy

The Bitcoin Bonus Program is the inaugural offering under Fold Business, a platform designed to expand into payroll services, corporate bitcoin treasury solutions, corporate cards, and additional enterprise tools built on bitcoin rails.

In September 2023, Fold announced a partnership with Stripe and Visa to launch a Bitcoin-only credit card, simplifying bitcoin rewards for everyday spending. The card offers up to 3.5% back in bitcoin, with additional earnings for users paying via a Fold Checking Account. It also includes up to 10% bitcoin back at selected major retailers, aiming to streamline traditional crypto reward systems.

Fold’s Existing Offerings and Market Position

Fold, listed on the Nasdaq under the ticker FLD, already provides a consumer app, debit card, credit card, and bitcoin gift card products. The company views workplace bitcoin benefits as a key growth channel for expanding its market presence.

As of early Thursday trading, FLD shares traded near the mid-$1 range with a market capitalization of approximately $73 million.

“The Bitcoin Bonus Program transforms what is often a spent-on-arrival cash bonus into a longer-term asset, aligning employee incentives with the growth of bitcoin.”

This post first appeared on Bitcoin Magazine and is written by Micah Zimmerman.