Savvy

Bank

Bitcoin

<ul>
 <li>Xapo Bank launches interest-bearing Bitcoin accounts in the UK offering unique financial services.&nbsp;&nbsp;</li>  
 <li>&nbsp;Customers can send funds and make payments to UK wallets and bank accounts with Xapo Bank.&nbsp;&nbsp;</li>  
 <li>The UK is emerging as a hub for cryptocurrency innovation with a strong regulatory framework.</li> 
</ul>  
<p>Xapo Bank, a private bank and Bitcoin custodian, has launched interest-bearing Bitcoin and fiat accounts in the UK. The Gibraltar-based bank entered the UK market after securing its banking license. It now offers US dollar and Bitcoin accounts for users interested in holding Bitcoin.</p>  
<h2 class="wp-block-heading" id="h-unique-financial-services">Unique Financial Services</h2>  
<p>Xapo Bank lets customers send up to 1 million British pounds and make payments to UK wallets and bank accounts. The Bitcoin account offers a 1% yield without requiring staking or locking assets. Customers can spend <a href="https://cryptonewsland.com/bitcoins-bearish-outlook-market-cap-drops/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin </a>like regular money with a universally accepted debit card. They can also invest in S&amp;P 500 stocks or buy select cryptocurrencies. The bank has added stablecoin payment options for US dollar bank accounts.</p>  
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<p>Xapo Bank officials noted challenges in getting its banking license in the UK. They are eager to expand membership locally. The UK market presents a chance to share the future of digital finance. The UK is becoming a hub for cryptocurrency innovation with a strong regulatory framework and financial ecosystem.</p>  
<h2 class="wp-block-heading" id="h-integration-with-the-uk-market">Integration with the UK Market</h2>  
<p>Xapo Bank's UK offerings include spending Bitcoin via a debit card. Customers can make GBP payments to UK bank accounts, invest in the S&amp;P 500, acquire select cryptocurrencies, and use stablecoin payment rails for USD bank accounts.&nbsp;</p>  
<p>Fintech firms seeking banking licenses in the UK have faced challenges recently. Yet Revolut, a crypto-friendly finance app, received a new banking license from UK regulators. This reflects growing acceptance of fintech innovations in the UK.</p>  
<p>Regulated by the Gibraltar Financial Services Commission since 2021, Xapo Bank expanded services in the UK. It is now officially recognized as a UK-regulated bank, marking a key step for offering financial services to UK customers.</p>  
<h2 class="wp-block-heading" id="h-uk-crypto-landscape">UK Crypto Landscape</h2>  
<p>In July 2024, Revolut got a UK banking license with restrictions from the Prudential Regulation Authority. It is now in the 'mobilization' stage, a standard process for new banks. During this phase, the bank is limited to holding GBP 50,000 in total customer deposits with no service disruptions for customers. Revolut NewCo, a subsidiary of Revolut Group Holdings, holds the license. Revolut continues to serve UK customers until the bank's full launch.&nbsp;</p> 
<p>The post <a href="https://cryptonewsland.com/xapo-bank-brings-interest-bearing-bitcoin-accounts-to-the-uk-for-savvy-investors/" rel="noopener noreferrer nofollow">Xapo Bank Brings Interest-Bearing Bitcoin Accounts to the UK for Savvy Investors</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Xapo Bank Brings Interest-Bearing Bitcoin Accounts to the UK for Savvy Investors

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