The post Xapo Bank launches Bitcoin and fiat interest accounts in the UK appeared on BitcoinEthereumNews.com.

Private bank Xapo Bank, one of the first digital asset custodians has launched interest-bearing Bitcoin and fiat accounts in the UK, drawn by the strong regulatory framework in the UK.  The bank reportedly becomes the first to offer combined interest-bearing USD and Bitcoin accounts in the UK market, after gaining regulatory approvals for its operations. Xapo Bank announced its entry into the UK market on Monday after it had passed its license in the UK market. Xapo Bank adds more payment options The banking firm now offers US dollar and bitcoin to customers interested in holding the wallet. The bank officially launched in the UK with the bitcoin account offering a 1% interest without staking, lending or locking up assets, the bank revealed. Xapo expanded its services in the UK including fiat accounts while customers can also invest in S&P 500, and bitcoin spending using a debit card. The bank has also reportedly added stablecoin payment options for the US dollar accounts. “We’re proud to announce we have successfully passported our banking license into the UK. This means we are allowed to offer our banking services directly to the UK market.” Xapo Bank. “Xapo bank members can also send funds directly, conveniently, and securely 24/7, up to 1 million GBP. They can also make direct payments to UK-based wallets and bank accounts,” added the bank. XAPO BANK LAUNCHES INTEREST-BEARING BITCOIN ACCOUNTS IN THE UK AFTER PASSPORTING LICENSE Xapo Bank has officially launched in the UK, offering 1% interest on bitcoin accounts without the need for staking. The bank’s expanded services include fiat accounts, S&P 500 investments,… pic.twitter.com/oqQjl7Mgrg — Crypto Town Hall (@Crypto_TownHall) August 5, 2024 UK’s regulatory framework attracted Xapo Xapo CEO Seamus Rocca said attaining approval was not a walk in the park but has shown the company’s ability…

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Filed under: News - @ August 7, 2024 1:16 am