Fintech Fold Intends To Go Public, Touts Bitcoin on Books [Yahoo! Finance]
FTAC Emerald Acquisition Corp. - Unit (EMLDU)
Company Research
Source: Yahoo! Finance
The financial services company allows users to easily move in and out of bitcoin, while also enabling bitcoin-denominated cashback rewards for normal spending habits. Fold can be seen as a competitor to Block's Cash App, with an even heavier focus on bitcoin. Bitcoin-focused financial services provider Fold intends to go public via a merger with a special purpose acquisition company (SPAC), FTAC Emerald Acquisition Corp. ( EMLD Fold offers a cashback debit card and enables the ability to buy and sell bitcoin directly from Fold accounts, among other services. It could be considered a small competitor to Block's ( SQ Cash App product, which also facilitates the buying and selling of bitcoin and previously has enabled cashback rewards denominated in the cryptocurrency. The merger, expected to be completed in the fourth quarter of 2024 after regulatory approvals, pegs Fold's valuation at $365 million and will lead to its shares being trading on the Nasdaq. Fold's Bitcoin Treasu
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