Ohio officials approves crypto vendor for fee payment

OHIO — Ohio Treasurer Robert Sprague and the State Board of Deposit approved Grant Street Group to facilitate cryptocurrency payments for state fees and services on Sept. 24.

“At this week’s Board of Deposit meeting, we took the next step to position Ohio as a leader in the digital currency space, authorizing a vendor to facilitate the acceptance of cryptocurrency as payment for state fees,” Sprague shared. “After reviewing several proposals, I’m confident that Grant Street Group will be able to provide the security and service we need for Ohioans to be able to utilize the tools of modern finance.”

The treasurer’s office started looking for a vendor to provide services after a board meeting among members of the Board of Deposit.

One official feels the decision positions Ohio to better adapt to the digital world.

“Yesterday’s vote positions Ohio as a national leader and innovator through the adoption and use of Bitcoin and digital asset technologies,” said Andrew Burchwell, Executive Director of the Ohio Blockchain Council. “This move modernizes our state government to be prepared for the future of digital global payments.”

Noah Herman, Chief Strategy Officer for Fortris Global echoed this sentiment, “Innovation in the US has always been led by the States, and this continues to be the case with blockchain and digital asset technologies. With the formal authorization of cryptocurrencies as a financial transaction device, the Board of Deposit has cemented the State of Ohio’s credentials as a leader, an innovator, and a place in which the businesses of the present and future will be able to locate, hire, build, execute, and grow.”

BitGo’s vice president feels Ohio has what it takes to become a staple in the financial world.

“As a sixth generation Ohioan, it’s great to see our state take leadership in the future of finance,” said BitGo VP of Corporate Development Baylor Myers. “Having worked in New York, Washington, and Silicon Valley, there is no good reason why Ohio cannot compete — we have the talent, the values, and the drive.”