Bitcoin rewards company Fold has announced its expansion into El Salvador, establishing a new office that will serve as its base for operations in Latin America. Fold, known for introducing the world’s first bitcoin rewards Visa Debit Card to the U.S. market in 2020, aims to make bitcoin accessible and easy for users worldwide.
Fold CEO Will Reeves expressed enthusiasm about the move in a press release shared with Bitcoin Magazine, stating, “As a country that has embraced bitcoin and has been a pioneer in adopting new monetary technology, we believe that El Salvador is the perfect place for Fold to expand its presence in Latin America.” Reeves sees El Salvador as an ideal location due to the country’s positive stance on bitcoin and its efforts to build new capital markets.
According to the release, Fold’s expansion will bring valuable solutions to consumers and businesses in the region through its rewards program and embedded bitcoin infrastructure. The company stated its plans to announce partnerships with major players in Latin America soon. According to the release, to date, Fold’s bitcoin rewards infrastructure has processed over $1 billion in volume, highlighting its growing success and impact.
Stacy Herbert, from the National Bitcoin Office of El Salvador, expressed excitement about Fold’s arrival, stating, “Fold certainly fits that description and we are excited to welcome them to Bitcoin Country.” Fold’s expansion into El Salvador marks a significant milestone for the company as it continues to foster a global bitcoin community.
The new office in El Salvador and the local team will enable Fold to provide personalized support to its Latin American users and partners. The Fold mobile app is available for download on Android and iOS devices.
For more information on Fold’s expansion and upcoming partnerships, the company encouraged users to visit their website at www.foldapp.com.