Fold Holdings, Inc. ($FLD), a publicly listed company specializing in Bitcoin financial services, has recently revealed that its platform is now accessible across all 50 states in the United States.
This expansion comes on the heels of a strategic alliance with BitGo Bank & Trust, which has recently achieved a significant milestone by becoming one of the pioneering digital asset firms to obtain a federal bank charter from the Office of the Comptroller of the Currency (OCC).
This development represents an important achievement in U.S. consumer Bitcoin services: Fold stands out as the first platform to function nationwide under a unified federally regulated trust framework.
Previously, licensing and regulatory challenges at state levels limited consumer access, especially in states like New York. Thanks to BitGo’s charter, Fold can now offer Bitcoin exchange and custody services throughout the entire country, including areas that have historically imposed restrictions. This information was disclosed by the company in their statement shared with Bitcoin Magazine.
Fold Advocates for a ‘National Framework’ for Bitcoin
“The federal bank charter granted to BitGo B&T combined with Fold’s suite of Bitcoin financial products establishes America’s first genuine national framework for accessing Bitcoin,” stated CEO Will Reeves. “This replaces an inconsistent patchwork of state regulations with one cohesive structure that is regulated, paving a clear path forward for both businesses and consumers.”
Reeves highlighted that having nationwide availability enables Fold to enhance its offerings while providing Bitcoin products aligned with federal oversight.
The company’s offerings aimed at consumers include its innovative Bitcoin Gift Card
as well as the forthcoming Fold Bitcoin Credit Card which will now reach previously inaccessible markets.
BitGo supplies essential digital asset infrastructure through its Crypto-as-a-Service platform, allowing them to operate within federally supervised compliance while continuing advancements in rewards programs, payment solutions, and custody services.
“This marks an important moment for both BitGo B&T and Fold,” remarked Frank Wang, Executive Director of Fintech Sales at BitGo. “Our transition to being governed by a federal bank charter empowers us to support consumer platforms on a national scale; thus making Fold an ideal partner for this initiative. Access has been constrained geographically; however, under this national framework both companies can operate responsibly across all U.S. territories.”
This collaboration positions FLD favorably to attract more users while aligning cryptocurrency services offered to consumers with federal regulations. However, it also introduces certain dependencies: any regulatory or operational challenges faced by BitGo could impact how effectively they deliver their nationwide service.
The company announced it is starting user onboarding efforts across America and will provide further details regarding product availability as they continue their rollout process.