Xapo Bank
Xapo Bank is the world’s first Bitcoin-enabled bank to fully integrate traditional finance with cryptocurrency. Launched in 2013, Xapo Bank went from a Bitcoin wallet provider into a full-fledged Bitcoin banking institution. The bank combines the security and benefits of a traditional bank with the innovative features of digital assets, offering a seamless banking experience for the crypto economy. It provides a wide range of financial solutions, including savings accounts with interest on Bitcoin and USD deposits, stock trading, and a highly secure BTC Vault. Xapo combines a physical bunker with MPC technology and guarantees USD deposits up to the equivalent of €100,000.
ABOUT XAPO BANK
Xapo Bank is a dual-licensed banking and Virtual Asset Service Provider that enables customers to seamlessly transact in both fiat and Bitcoin currencies.
Xapo Bank transitioned from a Bitcoin wallet to an e-money wallet and then to a “digital-first” retail bank and virtual asset service provider (VASP) custodian.
As the Fort Knox of Bitcoin, the bank utilizes a physical vault along with MPC technology to bolster security for members.
Designed as a bridge between traditional banking and Bitcoin, Xapo enables its global members to maximize the value of their Bitcoin by offering a competitive yield without needing to stake, lend, or lock up assets.
KEY FEATURES AND SERVICES
Traditional Banking.
Xapo Bank offers a US Dollar bank account with a 4.1% annual interest rate on deposits.
Bitcoin Integration.
Users can deposit, withdraw, buy, and sell Bitcoin through the platform, with a 1% annual interest rate on Bitcoin holdings.
Blockchain Transactions.
The bank facilitates fast, low-cost international transactions using blockchain technology.
Xapo Bank is regulated by the Gibraltar Financial Services Commission and provides protection for deposits through the Gibraltar Deposit Guarantee Scheme.
Global Access.
The Xapo Bank card can be used globally for withdrawals, although ATM availability and potential charges from ATM operators are not guaranteed.