Cryptocurrency startup Fold has added support for fiat currencies, government issued money that is not backed by a commodity, to its service that allows people to shop and get bitcoin-back rewards.
From now on customers will be able to use fiat money in order to get their bitcoin rewards.
The news comes as Fold has completed a $2.5m fundraising round led by Craft Ventures, CoinShares, Slow Ventures, Goldcrest Capital, and Fulgur Ventures, according to Crowdfund Insider.
Will Reeves, product lead at Fold, told the publication that the startup will “be rolling out subscription options for merchants and consumers soon that will provide premium services and highest rewards.”
Cryptocurrencies has received a lot of regulatory pressure lately. For instance, in early September the Dutch central bank warned cryptocurrency exchanges and digital wallet providers to get their affairs in order.
This has not stopped several celebrities from launching or backing cryptocurrencies. Although, not everyone is happy about famous people doing so.
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