In a significant advancement for cryptocurrency accessibility, Fold has announced the launch of its Bitcoin financial services across all 50 states in the United States. This national expansion is made possible through a strategic alliance with BitGo, which recently obtained a federal bank charter from the Office of the Comptroller of the Currency (OCC). This partnership allows Fold to navigate the complex regulatory environment that previously restricted access to its services in certain regions, notably New York.
With this development, users in states that once faced barriers can now take advantage of Fold”s offerings, including exchange and custody services. Previously, fintech platforms like Fold had to contend with a fragmented licensing system that varied from state to state. The collaboration with BitGo effectively eliminates these geographical restrictions, enabling a streamlined experience for users nationwide.
Will Reeves, the Chairman and CEO of Fold, articulated the significance of this partnership, stating that it represents a transition from “navigating barriers to building on bedrock.” He highlighted the importance of establishing a cohesive national framework for Bitcoin access that aligns with U.S. financial oversight standards.
Frank Wang, Executive Director of Fintech Sales at BitGo, echoed this sentiment, emphasizing that the federal charter paves the way for both companies to operate responsibly and effectively across the entire country. This framework not only simplifies operations for Fold but also enhances the overall ecosystem for Bitcoin services.
In addition to broadening access, Fold”s partnership with BitGo is expected to significantly enhance its suite of offerings. This includes the popular Bitcoin Gift Card and the forthcoming Fold Bitcoin Credit Card, developed in collaboration with Visa and Stripe. To date, Fold has processed over $3.1 billion in transaction volume and distributed $83 million in rewards to its users. The company holds a disciplined Bitcoin treasury, maintaining 1,526 BTC, valued at approximately $154 million in early November 2025.
As the Bitcoin landscape evolves, challenges such as rising energy consumption and mining difficulty persist. Despite the doubling of Bitcoin”s energy usage over 17 months, driven by advances in hardware post-halving, mining difficulty remains relatively low. This discrepancy puts pressure on miners, who are grappling with increasing production costs while rewards continue to dwindle. The industry is gradually transitioning towards a more complex energy economy, where sustained profitability will depend on effective capital management and a high demand for network resources.
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