Xapo Bank enters the UK market and becomes the first in the country to launch interest-bearing Bitcoin and fiat banking accounts.
Gibraltar-based bank Xapo Bank has officially entered the market in the United Kingdom after successfully receiving its local banking license - now it is launching new banking services catering to users wanting to hold Bitcoin (BTC).
On August 5, Xapo Bank revealed that it is the first, and only, licensed bank in the UK to offer a combined interest-bearing USD and Bitcoin banking account.
According to the announcement, Xapo customers can also send funds of up to 1 million GBP (1.275 million USD) and make payments to UK-based wallets and bank accounts. The Bitcoin account yields 1% without staking, lending, or locking up assets.
