Ohio Launches Buckeye Billfold Digital Wallet for Crypto Payments

According to BlockchainReporter, Ohio has launched a state-backed digital wallet named Buckeye Billfold, allowing residents and businesses to pay state agencies using cryptocurrency. Announced by Ohio Treasurer Robert Sprague and Secretary of State Frank LaRose, the initiative instantly converts cryptocurrency into US dollars during transactions so the state receives fiat currency directly.

Payment options under the program also include credit cards and ACH transfers, alongside traditional cash and checks. The Treasurer's office stated that instant conversion protects the state from holding volatile digital assets while cutting processing times and transaction costs.

This marks Ohio's second attempt at accepting cryptocurrency for payments, following the 2019 failure of OhioCrypto.com, which lacked proper authorization from the State Board of Deposit. The board subsequently authorized cryptocurrency use last year, and unanimously approved Grant Street Group as the vendor to facilitate crypto acceptance. LaRose noted that the rollout keeps government aligned with modern transaction methods.