Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 4

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 4
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 a Fold pre-paid debit card
is issued by Sutton Bank, Fold’s banking partner, and sent to the user’s address on file. Users can activate a Fold pre-paid
debit card by either calling the number provided on the card or by following card activation instructions in the Fold app. After activating
a Fold pre-paid debit card, users can view card details by selecting the “Fold Card” tab in the Fold app.

●To deposit or withdraw funds, users can select the “Deposit”
or “Withdraw” option on the “Home” or “Fold Card” tab. From there, users can select from and utilize
a number of deposit and withdrawal methods. All funds directly deposited to, spent on, or withdrawn from the Fold Card are in USD. As
described in the “Bitcoin Buying and Selling” section below, eligible users also have the ability to deposit bitcoin into
their Fold account. Any such bitcoin deposited by users is received by and held at the Bitcoin Service Providers and does not directly
impact a user’s Fold Card balance. At their option, users have the ability to sell the deposited bitcoin to fund their card using
the “Push to Card” feature discussed below.

Bitcoin Buying and Selling

●To buy and sell bitcoin in the Fold app, users must request
access to this feature. Users can request access by first selecting the “Bitcoin” tab within the Fold app. Users will then
be prompted to provide additional KYC and AML information as required by Fold’s Bitcoin Service Providers. Only once a user has
passed these compliance checks will they be granted access to the bitcoin buy and sell features within the Fold app.

●All bitcoin buy and sell features are accessed by opening
the Fold app and selecting either the Bitcoin tab at the bottom of the screen or by selecting the Bitcoin balance shown on the Home tab.

●Users can purchase bitcoin in several ways, including:

●Spot Buys: This option provides for a one-time
bitcoin purchase at a USD amount specified by the user. After selecting the Buy button on the Bitcoin tab, the user is provided with
several pre-populated denominations — $10, $20, $50, $100 and $500 — as well as the option to enter a
custom amount of USD they would like to spend to purchase bitcoin. After choosing one of the pre-populated denominations or inputting
the custom amount they would like to purchase, the user is taken to a confirmation screen that displays the purchase amount,