Kroger Expands Fold Bitcoin Gift Card Offering After Successful Pilot

The Fold Bitcoin Gift Card is available as a physical or digital card and enables buyers to give bitcoin easily without having to set up a cryptocurrency wallet. The card can be managed and redeemed in the Fold app, according to the release.

Following the pilot at Kroger, the Fold Bitcoin Gift Card is now available in values from $25 to $500 online or at select Kroger stores nationwide, the release said.

Fold is a publicly traded bitcoin financial services company focused on making it easy for individuals and businesses to earn, save and use bitcoin. In addition to the Fold Bitcoin Gift Card and the Fold app, the company offers the Fold Credit Card and the Fold Debit Card, per the release.

Fold Chairman and CEO Will Reeves said in the release that Fold views Kroger’s decision to bring back and expand the program after seeing the results of the pilot as a signal of confidence in the product and its potential in traditional retail markets.

“For us, it’s a powerful proof point that a major national grocer sees lasting value in bringing bitcoin-powered rewards into the aisles where people already shop,” Reeves said.

Fold said in an Aug. 11 press release that during the second quarter, it added more than 1,000 new verified accounts, bringing the total to more than 87,000, and had a total transaction volume of $165 million.