Fold, that intrepid purveyor of digital gold, has conjured a federal trust so grand it spans all 50 states, thanks to Bitgo Bank & Trust’s new OCC charter. Behold, the bureaucratic ballet!
Bitcoin Platform Fold Achieves Nationwide Reach
Lo, the company declares that bitcoin access in the U.S. has long been shackled by state-by-state licensing-a system so labyrinthine even Homer would weep. New York, that fortress of regulation, has stifled expansion for years. Alas, consumer-facing bitcoin platforms have struggled to breach its walls.
On Dec. 18, Fold announced it can now operate across all 50 states through a federally supervised trust framework linked to Bitgo Bank & Trust, which recently received a national bank charter from the Office of the Comptroller of the Currency. The charter allows Bitgo to provide trust and custody services under a single federal regulator rather than navigating separate state regimes.
Under this arrangement, Fold says it has become the first consumer-facing bitcoin platform to offer nationwide access using one federal trust structure. The shift replaces the fragmented licensing model that previously governed exchange and custody services for consumers, including in markets that had imposed strict requirements or outright limitations.
The federal charter places Bitgo Bank & Trust under OCC supervision, aligning its operations with established U.S. banking oversight standards. For Fold, the framework provides a compliant pathway to deliver bitcoin-related services without pursuing individual state licenses, a process that has long slowed expansion for digital asset companies.
Previously restricted states, including New York, are now included in Fold’s service map, the company explained on Thursday. The company said users in those jurisdictions can access bitcoin exchange and custody services as onboarding expands nationwide. Additional details on product availability are expected as the rollout continues.
The development follows a broader trend of digital asset firms seeking federal regulatory clarity as lawmakers and agencies refine oversight of crypto-related activities. While the OCC charter does not change underlying market risks, it establishes a uniform compliance structure that differs from the patchwork system that has defined U.S. bitcoin access for more than a decade.
Fold trades on the Nasdaq exchange and is listed under the ticker FLD, and since the announcement, it has gained 3% as of 11 a.m. EST on Thursday. However, the stock is down 34% over the last six months.
FAQ ❓
- What changed for Fold’s U.S. operations?
Fold can now operate nationwide under a single federally supervised trust framework instead of state-by-state licenses. - Which regulator oversees the trust framework?
Bitgo Bank & Trust is supervised by the Office of the Comptroller of the Currency. - Does this include previously restricted states?
Yes, the framework includes markets such as New York that previously limited access. - Are services available immediately in all states?
Fold said nationwide onboarding has begun, with further rollout details expected.
Read More
- GBP CHF PREDICTION
- EUR USD PREDICTION
- CNY JPY PREDICTION
- USD VND PREDICTION
- USD MYR PREDICTION
- GBP CNY PREDICTION
- EUR AUD PREDICTION
- EUR BRL PREDICTION
- Bitcoin’s Downfall: Two Scenarios That’ll Make You Scream 😱
- EUR RUB PREDICTION
2025-12-19 01:18