1h
...
...
Fold Holdings, Inc., the first publicly traded bitcoin financial services company, has entered a four-year, senior secured revolving credit facility with Encina Lender Finance, LLC.
The facility carries an uncommitted accordion feature capping the maximum size at $150 million and is secured by a pool of consumer credit card receivables.
The deal gives Fold a dedicated funding source to grow its Bitcoin Credit Card program without issuing new equity — a structure that avoids diluting existing shareholders. CEO and Co-Founder Will Reeves said the capital will allow the company to “meaningfully expand the distribution of the Fold Credit Card” as it works toward becoming…
Read more on BitcoinMagazine
619 Reads
