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Xapo Bank Is The First Bank To Fully Integrate With USDC


Today, we are proud to announce that, we are the first bank to fully integrate with USDC, allowing our members to quickly and safely move money from fiat to USDC and back again. Thanks to our innovative partnership with Circle, we can effectively use non-traditional rails in the movement of money globally.

With the launch of Xapo Bank’s USDC withdrawal service, our members can now send USDC using funds from their Xapo Bank US Dollar accounts, with no fees incurred. This is in addition to our existing feature that enables our members to receive USDC into their Xapo Bank account, which are instantly converted to US Dollars and earn them an annual interest rate1 of 4.6%, with no staking or exposure to the crypto market involved.

USDC is a stablecoin that has its value pegged to the US Dollar. It is a reliable and valuable digital asset that enjoys widespread acceptance in the digital marketplace, which makes it a versatile and widely-used currency. Despite the recent de-pegging of USDC, our partner Circle maintained the 1:1 peg and is stronger than ever. Their partnerships with BNY Mellon and Blackrock provide added security and stability to the ecosystem. In addition to our recent integrations with the Faster Payment System and Lightning Network, this is just one more step in helping our members remove the barriers that prevent them from freely moving money around the world.

Xapo Bank: built with wealth protection in mind

Our reason for existing is to protect the life savings of our members and we have built a unique business model to ensure this happens.

We do not offer loans, which means our members’ deposits are held dollar for dollar on our balance sheet, invested in very short dated, highly credit rated, Money market instruments and short term bonds.

In addition, we charge a membership fee of USD150 which helps us recover our overheads, which means we do not need to rely on hidden fees or paying our members almost no interest. Rather, we are able to pass on the benefit of more than 80% of the yield we generate to our members.

Because we are a fully licensed and regulated bank, Xapo Bank is a member of the Gibraltar Deposit Guarantee Scheme (GDGS), which gives our members protection up to *$100,000 USD equivalent.

To learn more about Xapo Bank's crypto-native banking proposition, visit our website.


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