Fold Holdings, Inc. (NASDAQ: FLD) has begun issuing its Fold Bitcoin Credit Card to select members of its waitlist, with plans to expand access in batches over the coming weeks and months, according to a modified company release.

The card, issued on the Visa network and powered by Stripe Issuing, offers up to 4% back in bitcoin rewards on purchases. It carries a base rate of 1.5% bitcoin back, with behavior-based boosts and targeted offers available through Fold’s partner network.

Cardholders who pay their bill in bitcoin receive an extra 0.5% back on that payment. The card is accepted at 175 million Visa merchants.

Fold has begun shipping physical cards to active holders. New applicants will receive a physical card upon approval. Users can also access a virtual card through the Fold App for use with Apple Pay and Google Pay.

“Launching the Fold Bitcoin Credit Card marks a pivotal milestone for Fold,” said CEO Will Reeves. “No gimmicks, complicated points systems or token rewards. Just a simple and transparent way to earn bitcoin on everyday spending.”

Card features include real-time reward tracking in the Fold App, lock and unlock controls, fraud alerts, and the option to link a Fold Checking account or external bank for payments.