Gibraltar was one of the first jurisdictions in the world to regulate Bitcoin, and Xapo was one of the first companies to obtain a license.
How does this keep you safe and what does it mean to you as a customer? Put simply, we have the same standard of regulation a Bank would have but for your Bitcoin. We are required to have capital, security, processes and controls. Keep your data safe. Compliance requirements and the like.
But how does Gibraltar regulation compare to the rest of the world? Many places in the world now have crypto regulation. The US has its Bitlicense, and Europe has just approved MICA. In Asia, Singapore introduced a licensing regime and many other countries are in the process of coming out with their own equivalent.
Xapo Bank’s Bitcoin security
Xapo was the first institutional Bitcoin Custodian in the world and at our peak, we held over 800,000 Bitcoin for family offices, funds and high net worth individuals. We have since sold our institutional business to Coinbase, but we kept our technology and more importantly, our bunkers, so we could serve retail customers like you.
Even when we don’t have to, we go above and beyond to ensure that our application of Bitcoin regulation mirrors our banking regulation as much as possible. A good example of this is our Bitcoin reserve, one of the ways we keep your Bitcoin secure and covered from any hack.
We keep your private keys in a secure underground vault in what used to be a military bunker. If you want to trade crypto by all means use an exchange. But if you are worried about crypto hacks, or you are just HODLing, then storing your bitcoins with us is the smart thing to do.
To explore all that Xapo Bank has to offer, visit xapobank.com.
