We are thrilled to announce a significant milestone for Xapo Bank: the successful passporting of our banking license into the United Kingdom. This achievement marks a major step forward in our mission to bridge the gap between traditional banking and digital assets, making it possible for UK residents to enjoy our innovative services that seamlessly integrate traditional currency and cryptocurrency.
Leading the Way
Founded in 2013, Xapo Bank has grown from a simple Bitcoin wallet into a fully licensed digital retail banking group. Our journey has been guided by a commitment to security, innovation, and regulatory compliance. As the first licensed banking group to provide a combined offering of interest-bearing USD and Bitcoin (BTC) accounts into the UK, we are proud to be at the forefront of financial evolution.
Why This Matters
The UK is quickly establishing itself as a global hub for cryptocurrency innovation. With an estimated 10% of UK adults holding cryptocurrency in 2023, the demand for reliable and regulated cryptocurrency access and banking services is higher than ever. Our entry into the UK market not only meets this demand but also sets a new standard for holding Bitcoin.
Seamus Rocca, CEO of Xapo Bank, shared his excitement about this development:
What We Offer
Our UK members can now access a range of unique services:
Combined interest-bearing USD and Bitcoin account:
Earn 1% yield on Bitcoin without the need for staking, lending, or asset lockups.
24/7 fund transfers:
Send up to 1 million GBP directly to UK-based wallets and bank accounts.
Global debit card and investment opportunities:
Spend Bitcoin using a universally accepted debit card, invest in S&P 500 stocks, or acquire select cryptocurrencies.
Stablecoin payment integration:
Utilize stablecoin payment rails with USD bank accounts for seamless transactions between traditional and digital finance.
Joey Garcia, Director and Head of Regulatory and Public Affairs at Xapo Bank, emphasized the importance of our expansion into the UK:
A Commitment to Regulation and Innovation
At Xapo Bank, we believe that strong regulatory frameworks are essential for the sustainable growth of the cryptocurrency space. Our successful entry into the UK market is a testament to our dedication to meeting the highest regulatory standards.
We are committed to providing secure, compliant, and innovative banking solutions that empower our customers to take full advantage of the benefits of both traditional and digital finance.
Celebrating Our Success
Securing approval to operate in the UK is a significant achievement and a proud moment for Xapo Bank. It underscores our position as a leading player in the Bitcoin and banking space and highlights our unwavering commitment to our customers and regulatory compliance. We look forward to serving the UK market and continuing to lead the way.
The Future of Banking with Xapo Bank
As Xapo Bank enters the UK market, we are excited to continue offering our unique cryptocurrency and traditional banking solutions. Our comprehensive range of services is designed to meet the diverse needs of our members, providing them with the tools they need to navigate the evolving financial landscape.
But we’re not stopping here—exciting enhancements are on the horizon. Soon, we’ll introduce new and improved storage options that will make your Bitcoin virtually impenetrable, offering greater peace of mind and confidence. Additionally, we will be providing the most competitive prices for accessing Bitcoin we’ve ever offered, alongside robust new ways for our members to supercharge their Bitcoin growth. Stay tuned as we continue to push the boundaries of what is possible in Bitcoin and banking.
Join the Xapo Bank Community
We invite UK residents to join the Xapo Bank community and experience the future of banking. Our innovative solutions are designed to provide the best of both worlds, combining the security and reliability of traditional banking with the flexibility and potential of digital assets.
As we continue to expand and innovate, we remain committed to delivering exceptional value to our members and setting new standards in the space.
Stay tuned for more exciting developments as Xapo Bank continues to lead the way in Bitcoin and banking. Welcome to the new era of banking. Welcome to Xapo Bank.
