Phoenix bitcoin company Fold expands nationwide with partnership

Phoenix-based bitcoin financial services company Fold Holdings is expanding its national reach through a partnership with BitGo Holdings Inc., a digital asset infrastructure firm headquartered in California.

Fold Holdings Inc. (Nasdaq: FLD) said Thursday it will be the first consumer bitcoin financial services company to operate in all 50 states under a federally supervised trust framework as part of its partnership with BitGo, which received conditional approval Dec. 12 from the Office of the Comptroller of the Currency to become a federally regulated institution that will do business as BitGo Bank & Trust.

“BitGo Bank & Trust’s federal bank charter combined with Fold’s Bitcoin financial products gives the U.S. its first true national framework for bitcoin access, a foundation the industry has been waiting for,” Will Reeves, CEO of Fold, said in a statement.

“It replaces a patchwork of state rules with a single, regulated structure, creating a clear path forward for both companies and consumers. For Fold, this opens the entire map. We can now reach consumers in all 50 states, providing a straightforward, regulated way to engage with Bitcoin where state licensing requirements previously limited access.”

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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