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Xapo Bank expands customer liquidity with Bitcoin-backed loans

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by Giorgi Kostiuk

7 hours ago

Gibraltar-based Xapo Bank has introduced Bitcoin-backed USD loans to provide expanded liquidity options for its customers.

New Lending Opportunities by Xapo Bank

Xapo Bank users can now access up to $1 million in credit by offering their Bitcoin as collateral. Clients can receive as much as 40% of their BTC’s value in U.S. dollars and have up to one year to repay the loan, depending on its size.

Companies often liquidate crypto holdings first during market uncertainty, which adds to existing sell pressure and ultimately hampers the largest cryptocurrency by market cap.Xapo Bank Representative

Lessons from Past Crypto Lending Failures

In 2022, firms like BlockFi and Celsius offered similar products but collapsed, impacting the crypto market negatively. Unlike them, Xapo operates as a fully licensed bank, which might lead to different outcomes.

Partnerships and Expansion of Xapo Bank's Crypto Portfolio

In August 2024, Xapo Bank partnered with Hilbert Group to launch a $200 million Bitcoin fund. In 2023, the bank expanded its crypto suite to include Ethereum and Cardano.

Xapo Bank's offer of Bitcoin-backed loans marks a significant step in the development of crypto financial services and may provide clients more confidence in handling their crypto assets.

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