Fold just rolled out its long-awaited Bitcoin rewards credit card this month, and CEO Will Reeves is already telling investors the consumer card is only step one.

Step two is putting Bitcoin payroll, treasury, and corporate cards in front of every business owner who already uses Fold at home.

After a seven-year regulatory grind, Reeves argues the hardest part of building Bitcoin-native financial products is behind the industry, and the next leg of growth comes from going B2B inside Fold’s existing customer base. He spoke with TheStreet Roundtable about this pivot.

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The recap: a seven year journey

Fold just started the roll out of its long awaited credit card to waitlist members in batches. The card gives up to 4% back in Bitcoin and a base rate of 1.5%.

To scale the program, Fold secured a $150 million asset-backed revolving credit facility from Encina Lender Finance, allowing it to grow the card without diluting shareholders.

Reeves explained that the project has been in motion for far longer than the launch suggests.

“The first time we created a model about ‘should we do a credit card’ was probably 2019. So that’s seven years essentially of trying to get this thing to market. Having snags, whether it be changes in compliance, operation choke points, bear markets extended where partners pull out and lost confidence in Bitcoin,” he said.

Going B2B

With the consumer card live, the next product line will be built around businesses, not individuals. Reeves says retail users keep asking for the same tools for their companies.

“It may look a lot like what you know from Fold today, earn rewards, buy some Bitcoin, but we’re going to be doing it for businesses. Most of our retail clients, there’s high overlap between them and business owners. They’re managing their family’s finances through Fold and we constantly are getting, ‘I’d like to do the same with my business, but I can’t.” Reeves said.

Fold has already taken the first step with its Bitcoin Bonus Program, which lets employers convert payroll bonuses into Bitcoin without changing existing payroll systems. Steak ‘n Shake, with more than 10,000 workers, is the flagship partner.

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Regulation is clearer than its ever been

Reeves credits the change in regulatory tone, as well as stickier partners, as the single biggest unlocks for the product roadmap.