Bitcoin is no longer a fringe asset — it’s entering mainstream finance, and Fold CEO Will Reeves believes it’s only the beginning.

Speaking with Scott Melker on TheStreet Roundtable podcast, Reeves noted that Bitcoin is transforming financial services.

Fold, which launched in 2019, offers Bitcoin-powered financial services, including debit and credit cards that reward users in Bitcoin. The company recently went public via a SPAC on February 14, a decision Reeves said was long in the making.

“These things don’t happen overnight,” Reeves explained. “We thought bringing a Bitcoin financial services company focused on long-term savings needed to be represented in public markets to bring trust, reputation, [and] validity there.”

A new wave of crypto IPOs

Fold is part of a growing trend of crypto companies entering public markets. “Fold was the first Bitcoin financial services company to make it through the door. We won’t be the last,” Reeves said. He expects more Bitcoin-focused firms to go public, adding legitimacy and transparency to the industry.

Exodus Wallet has already gone public, and major exchanges and crypto firms like Circle are considering the same path. “Investors, consumers, and Americans overall want to see companies make it through,” Reeves noted.

Reeves sees Bitcoin as a force fundamentally changing traditional markets. While it’s still early, major financial institutions are already adapting.

“We have seen that the top bulge bracket banks all have Bitcoin and digital asset strategy teams,” he said. “Jamie Dimon completely changed his tune on Bitcoin. The ETFs came out and became one of the most successful financial products in history.”