Fold launches payroll-linked Bitcoin bonuses for U.S. firms

Fold Holdings on April 23 introduced the Bitcoin Bonus Program, a payroll-linked service that lets U.S. employers set recurring bonuses in U.S. dollars that Fold converts into bitcoin and delivers to employees.

Under the program, employers define bonus amounts on regular payroll schedules. Fold converts those amounts to bitcoin, manages custody, applies employer-defined vesting rules, and delivers BTC to employees through Fold’s mobile app.

The company presented the offering as the first product from its Fold Business B2B platform and described the service as a way to integrate bitcoin into payroll systems and provide recurring bitcoin allocations as an element of compensation and retention packages.

Fold identified Steak ‘n Shake as a flagship partner. The restaurant chain, with a U.S. workforce of more than 10,000, accepts bitcoin via the Lightning Network, directs a portion of transaction flow into a Strategic Bitcoin Reserve and purchases bitcoin directly. Steak ‘n Shake ties bitcoin rewards to menu items and promotions and will enable employees to earn bitcoin with vesting linked to tenure so payouts build over time.

Simple Mining is another early adopter, using recurring bitcoin allocations for salaried staff with vesting tied to length of employment. Fold noted interest from quick-service restaurants, retail companies, service-sector employers and technology firms exploring alternative compensation tools.

Fold did not disclose fees or minimum contract terms in its announcement.

Will Reeves, Fold’s co-founder and chief executive, stated, “The employer sets the terms in dollars. Fold handles everything else.”

Fold plans to expand the Fold Business platform to include payroll solutions, corporate bitcoin treasury management and other business-focused financial tools.