Your money, your way: Xapo Bank launches UMA deposits

Banking

September 19, 2025

Written by Xapo Bank

Seamless deposits are here – send USD or Bitcoin directly to your Xapo account via your Universal Money Address (UMA).

Sending and receiving money across borders has long been a process plagued by complexity. Complicated IBANs, long and unfriendly crypto addresses, high fees, and frustrating delays are all too common.

At Xapo Bank, we believe in a simpler, more efficient future for your money. That’s why we were a founding member of the Universal Money Address (UMA) network, launching UMA withdrawals in May 2024 to make sending money as easy as sending a text message.

Today, we are thrilled to take the next step:

The Xapo Bank app now supports UMA deposits, allowing our members to instantly receive USD or BTC to their simple, human-readable UMA address.

What is a Universal Money Address (UMA)?

For those new to the concept, a Universal Money Address (UMA) is a single, easy-to-read address that enables you to send and receive various currencies and digital assets securely, almost instantly, and at a very low cost. Think of it like an email address for your money, such as

[email protected].

Powered by the Bitcoin Lightning Network, UMA creates a universal standard for transactions, eliminating the need for complex IBANs or cryptocurrency wallet addresses and allowing seamless payments between a wide range of providers like digital wallets, exchanges, traditional banks, and neobanks.

What’s new: Complete your global money experience with deposits

Since early 2024, our members have been able to send funds globally using UMA, transferring Bitcoin from their Xapo wallet which can be automatically converted into currencies like Mexican pesos, Argentinian pesos, or Philippine pesos on the recipient's end.

Now, we’re completing the circle. With the launch of UMA deposits, you can now receive funds from anyone on the network, directly into your Xapo Bank account, 24/7.

How it works: Receive Bitcoin or US Dollars, you decide

We’ve designed the deposit experience to be simple, transparent, and powerful, putting you in complete control of your money.

Choose Your Currency: As a Xapo member, you can decide whether you want to receive UMA deposits in Bitcoin (BTC) or US Dollars (USD).
Share Your UMA: Simply share your unique UMA address – found in the profile section of your Xapo Bank app – with the sender. They can send funds from any UMA-enabled wallet or exchange.
Receive Instantly: Funds arrive in near real-time.
- If you select BTC, the Bitcoin is credited directly to your wallet, just like a standard Lightning Network deposit.
- If you select USD, we instantly convert the incoming Bitcoin to US Dollars at a fixed exchange rate and credit your USD account.

Getting started with UMA deposits

How do I get a UMA address? Every approved Xapo Bank member automatically gets a free UMA address. It can be found in the profile section of your app. Please note that for security reasons, your UMA address cannot be changed.
What are the fees? Xapo doesn’t charge fees for receiving UMA deposits. When you choose to receive USD, your deposits are converted using the normal Xapo BTC exchange rate, which includes our standard 10 bp (0.10%) spread.
Who can I receive money from? You can receive funds from any participating financial institutions on the UMA network, which includes partners like Ripio, Foxbit, Coins.ph, Pouch.ph, and Bitnob, with major companies like NuBank and SoFi expected to enable UMA transactions soon.

Experience the future of global payments. Log in to your Xapo Bank app and start receiving money from around the world with unparalleled ease and speed.

Disclaimer

This article is for general information purposes only and is not intended to constitute legal or other professional advice or a recommendation of any kind whatsoever and should not be relied upon or treated as a substitute for specific advice relevant to particular circumstances. We make no warranties, representations or undertakings about any of the content of this article (including, without limitation, as to the quality, accuracy, completeness or fitness for any particular purpose of such content), or any content of any other material referred to or accessed by hyperlinks through this article. We make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.
Xapo’s services are exclusively offered from Gibraltar and regulated by the Gibraltar Financial Services Commission. None of the services referred to in our Website are available in any jurisdiction where such activity is prohibited. Persons who are resident outside Gibraltar should consult their professional advisers or local regulator to satisfy themselves of local regulatory requirements.
You acknowledge that your arrival to and use of our Website and any of its related mobile applications and other platforms and any requests for information are wholly unsolicited and are entirely out of your own initiative without prior direct communication from us.
*Crypto asset services are provided by Xapo Vasp Limited, a company regulated by the Gibraltar Financial Services Commission as a ‘Distributed Ledger Technology Provider’ under Permission No. 26061 and not by Xapo Bank Limited. Xapo Bank Limited provides services exclusively in respect of fiat balances. Crypto asset deposits are not covered by the Gibraltar Deposit Guarantee Scheme."

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