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- The Bitcoin Bonus Program is a powerful, new benefit option for employers
- Steak 'n Shake flagship partnership offers the Bitcoin Bonus Program to thousands of hourly employees
Fold Holdings, Inc. (NASDAQ: FLD) ("Fold" or the "Company"), a bitcoin financial services company making it easy for individuals to earn, save and spend bitcoin through everyday financial tools, today announced the Bitcoin Bonus Program, an easy-to-use employee bonus program that lets employers deliver recurring bitcoin bonuses with built-in vesting without changing payroll systems or taking on custody or compliance responsibilities.
The Bitcoin Bonus Program is the first offering from Fold Business, a first of its kind, B2B bitcoin financial platform that extends Fold's best-in-class bitcoin financial tools to businesses and their employees. Implementation is simple; employers designate USD bonus amounts on their existing payroll cadence and Fold does the rest; Bitcoin conversion, custody, vesting administration, and employee-facing delivery through the Fold app. No prior Bitcoin knowledge is required.
Unlike typical cash bonuses that often disappear into everyday expenses or one-time purchases, the Bitcoin Bonus Program taps into bitcoin's value as a long-term asset that employees can track, hold, and grow over time. When paired with a vesting structure, the Bitcoin Bonus Program can transform a traditional bonus into a retention mechanic. A reason to stay, not just a bonus for having stayed.
"We launched our Bitcoin Bonus Program because we saw a gap that no one was filling," said Will Reeves, CEO and Co-Founder of Fold. "An employer-grade bonus vehicle that's differentiated enough to matter, accessible enough for every employee, and operationally simple enough that HR and Finance don't need to become bitcoin experts to run it. We've created a recruiting story that didn't exist before."
Fold's flagship Bitcoin Bonus Program partner, Steak 'n Shake, employs over 10,000 workers across the United States. Through its program with Fold, Steak ‘n Shake is enabling these employees to earn bitcoin as part of their compensation experience. Simple Mining, a leading bitcoin mining hosting company based in Cedar Falls, Iowa, is also using the Bitcoin Bonus Program to reward its salaried workforce with recurring bitcoin allocations tied to tenure.
"Employee bonus programs haven't changed in decades," said Matt Garland, Head of Revenue, at Simple Mining. "Cash hits an account and it's gone by Friday. SimpleMining hosts Bitcoin miners for investors, and our team sees the value of this asset up close every single day. We want to help them accumulate it. Allocating 1% of every employee's pay into Bitcoin, redeemable at year-end, lets our team share in that upside. The bonus grows with time, and so does the reason to stick around."
"What Steak 'n Shake and Simple Mining show is that this isn't a niche product for one type of company," added Reeves. "A 10,000-person hourly workforce and a specialized mining operation are using the same program, configured for how they actually work. That's what we built Fold Business to do. The employer sets the terms in dollars. Fold handles everything else."
Fold's bonus program can be especially attractive to companies with large hourly workforces at QSR chains, retail and service industries. It is also a differentiated option for tech-forward employers looking to entice and retain valuable salaried employees with more than the typical equity and cash incentives to create longer-term employee alignment.
Bonuses are just the beginning for Fold Business. Over time, the Company aims to extend the Fold Business platform to include payroll, corporate bitcoin treasury management, corporate cards, and additional enterprise financial tools built on bitcoin.
About Fold
Fold (NASDAQ: FLD) is the first publicly traded bitcoin financial services company, making it easy for individuals and businesses to earn, save, and use bitcoin. Fold is at the forefront of integrating bitcoin into everyday financial experiences. Through innovative products like the Fold App, Fold Credit Card™, Fold Bitcoin Gift Card™, and Fold Debit Card™, the company is building the bridge between traditional finance and the bitcoin-powered future.
For investor inquiries, please contact:
Orange Group
Samir Jain, CFA
FoldIR@orangegroupadvisors.com
For media inquiries, please contact:
Cindy Stoller
Confluence Partners, LLC
917-331-0418
cstoller@confluencepartners.com
media@foldapp.com
Cautionary Note on Forward-Looking Statements
The information in this letter includes "forward-looking statements" within the meaning of the federal securities laws. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements may be identified by the use of words such as "may," "could," "would," "should," "predict," "estimate," "plan," "aim," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on assumptions and on the current expectations of Fold's management and are not predictions of actual performance. Many actual events and circumstances are beyond the control of Fold. These forward-looking statements are subject to a number of risks and uncertainties, including: (i) our continued ability to implement business plans, including but not limited to our ability to make technical updates and other product upgrades; (ii) access to and reliance on funding for our products; (vi) access to and reliance on third parties, including banking partners; and (viii) those risks and uncertainties discussed in Fold Holding, Inc.'s filings with the Securities and Exchange Commission, including, but not limited to our previous Annual Report on Form 10-K and our subsequent Quarterly Reports. If any of these risks materialize or Fold's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While Fold may elect to update these forward-looking statements at some point in the future, Fold specifically disclaims any obligation to do so, except as required by law.
