Fold cleverly plays with this 150 million credit agreement, using accounts receivable collateral without diluting equity, and the BTC credit card race is about to accelerate.

Fold Holdings and Encina Lender Finance have signed a four-year senior secured revolving credit agreement, with a maximum of $150 million, to expand Bitcoin credit card issuance capabilities, collateralized by consumer credit card receivables, without diluting equity. Fold has issued cards to the waiting list and will expand in phases in the future. Supported by the Visa network and Stripe Issuing technology, the card offers up to 4% Bitcoin cashback on purchases, and Bitcoin can also be used for repayments with additional rewards.