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BitGo receives OCC approval to convert into a federal bank, establishing crypto compliance infrastructure across all 50 states
【Crypto World】BitGo has just received approval from the Office of the Comptroller of the Currency (OCC) to officially become a federally chartered bank. After operating under the new identity of BitGo Bank & Trust, what can this company’s crypto-as-a-service infrastructure do? Simply put — it can now provide compliant digital asset solutions across all 50 states in the United States.
This is significant for companies like Fold that require nationwide Bitcoin services. A unified federal regulatory framework means no more navigating compliance paths across different states; a single standard can be used nationwide. This reflects a larger trend: traditional financial institutions and regulators are gradually recognizing crypto infrastructure. From a technical perspective to legal compliance, BitGo’s move is quite pivotal.