Fold Holdings has introduced the Bitcoin Bonus Program, a solution designed to help employers offer recurring bitcoin-denominated bonuses without altering their existing payroll systems. This initiative marks the first product under Fold's new business platform, which seeks to provide a streamlined experience for employees receiving and holding their bitcoin rewards.
Through the program, employers can set bonus amounts in US dollars on their regular payroll schedules while Fold handles the conversion to bitcoin, custody, vesting, and delivery through its app. This approach enables companies to offer bitcoin bonuses as both a benefit and a retention tool, with employees able to track and hold their bitcoin over time.
The program also features built-in vesting schedules, allowing employers to tie bonus access to tenure or performance. Companies can designate recurring USD bonuses or allocations in line with existing payroll cycles, and Fold executes real-time conversion to bitcoin at distribution, providing custody and administering vesting to minimize direct exposure to digital-asset handling.
Early adopters of the Bitcoin Bonus Program include Steak 'n Shake, which is offering the program to its hourly workers across its US workforce, and Simple Mining, a bitcoin mining hosting company in Iowa, that is directing 1% of employee pay into bitcoin through the program. These early adopters demonstrate the potential for the program to become a valuable benefit for employees and a strategic move for employers.