Fold, Inc., a trailblazer in bitcoin financial services, has successfully secured $20 million through convertible note financing led by ATW Partners, with a potential additional $10 million pending. This funding, supported by the company’s proprietary bitcoin assets as collateral, marks a significant advance in cryptocurrency-backed financial strategies. Set to mature three years post-public listing, the notes are convertible at $11.50 per share, underscoring strong market confidence in Fold’s future.

CEO Will Reeves highlighted the dual benefit of the financing, which aligns immediate capital infusion with long-term shareholder interests. This innovative financial structure is expected to fuel Fold’s strategic growth and product development initiatives. Reeves expressed gratitude towards ATW Partners for their investment and belief in Fold’s mission to broaden access to premium bitcoin services.

As Fold prepares to merge with FTAC Emerald Acquisition Corp. and transition into the public arena, the deal is poised to enhance their market position. This move is subject to SEC approval and FTAC Emerald stockholder consent, with a projected completion in early 2025. The partnership is a pivotal step for Fold, reinforcing its commitment to leading the charge in cryptocurrency financial services.