Buckeye Billfold and Other Initiatives Champion Innovation, Modernize the Ohio 

For many years, Ohio has been at the forefront of innovation in public finance. Modernizing the Treasurer’s office and bringing our operations into the future has always been central to my administration.

Buckeye Billfold Allows Ohioans to Use a Digital Wallet to Make Payments

Digital assets and cryptocurrency have become more widespread among the American people. That’s why our office is proud to announce Buckeye Billfold, an initiative that allows Ohioans to use a digital wallet to make payments to state agencies. The initiative will give Ohio residents and businesses an opportunity to use cutting edge technology and conduct financial transactions in whatever payment method works best for them. The initiative will allow credit cards, ACH (Automated Clearing House), and cryptocurrency to be used as methods of payment to state agencies that opt in to the program.

Ohio will become the first state to successfully authorize and promote statewide agency use and acceptance of digital asset payments. This effort will reduce overall costs of transactions and save time for both government employees and Ohioans. Under Buckeye Billfold, the digital currency will be converted to US dollars at the moment of transaction, so that an Ohioan is assured their payment has been made successfully, and the state receives the payment in its regular bank account as US dollars.

Buckeye Billfold continues our mission at the Treasurer’s office to support innovation. By offering a digital wallet that accepts cryptocurrency, Ohio is leading the way for other states and positioning itself to be ready for the modern global economy. For more details, please view our office’s press release for the initiative here.

Buckeye Business Advantage Supports Growth of Ohio’s Small Businesses

Ohio’s small businesses are pillars in our communities. We know that growth starts at home, and businesses need flexible capital to start or expand their small business.

Buckeye Business Advantage works similarly to the other linked-deposit programs in our office. In this case, a small business owner selects and works directly with a participating financial institution for a business loan. The loan officer at the participating financial institution will submit an online Buckeye Business Advantage application on behalf of the small business owner. The Ohio Treasurer’s office will then review the application, and if all eligibility criteria are met, the application is approved. Once the application is approved, the Ohio Treasurer’s office will deposit funds with the financial institution at a below-market interest rate. The financial institution will then reduce the small business borrower's loan interest rate in conjunction with the offsetting deposit by the Ohio Treasurer’s office.

By leveraging the state’s balance sheet, we can help small businesses access capital to reinvigorate or expand their operations in Ohio. Any business headquartered in Ohio with 51% operations in the state and 150 or fewer employees is eligible to apply. The business must be organized for-profit and is required to use the loan exclusively for business purposes.

For more information, please visit our website at www.ohiotreasurer.gov/buckeyebusinessadvantage or email our team at CDprograms@tos.ohio.gov.

Ohio Homebuyer Plus Continues to Empower Ohioans to Pursue Homeownership

 Communities throughout Ohio are grappling with a significant shortage of available housing and coupled with rising costs, soaring property values are pushing prospective buyers out of the market, particularly first-time homebuyers. As a way to help alleviate some of those challenges, we created Ohio Homebuyer Plus, a savings program designed to encourage homeownership throughout the Buckeye State.

Also following a similar linked deposit model as the Ag-LINK program, Ohio Homebuyer Plus offers residents access to specialized, tax-advantaged savings accounts to support their homebuying goals. Participants in the program receive an enhanced interest rate, helping their savings grow faster for use toward a down payment or closing costs when purchasing a primary residence in Ohio.

Prospective homebuyers can apply for a savings account through Ohio Homebuyer Plus by working with a participating financial institution. If they meet all eligibility requirements and are approved, and the Treasurer’s office will make a deposit at the financial institution. The bank or credit union then uses the interest generated from the Treasurer's deposit to offer the account holder a higher interest rate on their savings. For more information, please visit our website at www.ohiotreasurer.gov/homebuyerplus.