CryptoNews Podcast
#481: Will Reeves, Co-Founder of Fold, on Bitcoin Credit Cards, Bitcoin Rewards, and the Future of Bitcoin
CryptoNews Podcast
•October 9, 2025•27 min
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CryptoNews Podcast•Oct 9, 2025
Key Takeaways
- •Fold offers Bitcoin cashback on everyday purchases.
- •Visa partnership enables native Bitcoin rewards credit card.
- •Traditional finance integration proves tougher than Bitcoin technology.
- •Millennials abandoning airline miles for Bitcoin reward programs.
- •Institutional Bitcoin inflows suggest upcoming market rally.
Pulse Analysis
Fold positions itself as the most comprehensive Bitcoin‑first platform for American consumers. Launched in 2019, the app lets users earn up to 3.5 % Bitcoin cashback on everyday spending, from groceries to mortgage payments, without allocating personal capital. Recent partnerships with Visa and Stripe have turned that promise into a physical credit card that automatically converts rewards into Bitcoin, differentiating Fold from traditional airline‑miles programs. By delivering passive Bitcoin accumulation through familiar debit‑card UX, Fold bridges the gap between legacy loyalty schemes and the growing demand for crypto‑based incentives.
Building a Bitcoin‑first consumer product proved more complex on the traditional‑finance side than on the blockchain itself. Fold had to secure FDIC‑insured accounts, integrate with card networks, and navigate SEC filings while simultaneously developing Bitcoin custody, peer‑to‑peer payments, and Lightning‑compatible wallets. The real hurdle was convincing permissioned institutions to trust a crypto‑centric model, a process that required extensive political and technical negotiations. Visa’s evolving openness—moving from a mediator role to native settlement of crypto transactions—illustrates how legacy players are gradually adapting, yet the integration work remains a demanding, ongoing effort.
The timing of Fold’s expansion aligns with a broader Bitcoin renaissance. After hitting a new all‑time high, institutional capital—pension funds, corporate treasuries, and ETFs—has surged, delivering billions of dollars of fresh liquidity. Millennials, who once drove retail adoption, are now abandoning devaluing airline‑mile schemes for Bitcoin rewards that retain value. This shift, combined with growing Bitcoin DeFi and CeFi infrastructure, suggests the next market leg will be powered by large‑scale investors rather than retail hype. Early adopters of Fold’s Bitcoin‑backed credit card stand to benefit as the ecosystem matures and mainstream acceptance accelerates.
Episode Description
Will Reeves co-founded Fold in 2019 and has served as Chief Executive Officer of Fold and as a Director since its inception. Over the past eight years, Mr. Reeves has held product leadership positions at Thesis, Inc., A3Ventures, LLC and BYND, leading digital transformation and the development of innovation projects for Google and other Fortune 500 technology companies. Prior to founding Fold, Mr. Reeves was the Head of Payments at Thesis, Inc. from May 2018 to September 2019, where he led the development and strategic direction of the Bitcoin venture studio’s innovative payment and financial technologies. Mr. Reeves also has extensive experience in consumer finance. Prior to joining Thesis, Inc., Mr. Reeves played a key role at A3 Ventures, advancing mobility and commerce through the corporate innovation and investment arm of American Automobile Association. Mr. Reeves holds a B.A. in Rhetoric and Political Science from the University of California, Berkeley. We believe Mr. Reeves is well qualified to serve on the New Fold Board because of his background in product development, consumer finance and bitcoin and his operational and historical expertise gained from serving as Fold’s Chief Executive Officer since August 2019.
In this conversation, we discuss:
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Why Big Tech Wallets Didn’t Change the Economics of Spending
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Fold’s Approach: Redefining the Economics
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Bitcoin rewards without "buy-in"
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Building a “Bitcoin-first” financial product stack
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Challenges of building with Bitcoin
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Crypto/Bitcoin maturity & infrastructure improving
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Building Bitcoin payments + Bitcoin custody into the app
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BTC All-time high
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Current outlook on BTC
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Bitcoin giftcards
Fold
X: @fold_app
Website: foldapp.com
LinkedIn: Fold
Will Reeves
X: @wlrvs
LinkedIn: Will Reeves
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