Xapo Bank Launches Bitcoin-Backed Loans

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Xapo Bank, based in Gibraltar, has introduced Bitcoin-backed loans, allowing consumers to access USD funds without selling their assets.

Xapo Bank’s approach enables investors to use Bitcoin as collateral, aiming to preserve its long-term value. The bank offers low-rate short-term loans, better than credit card options.

Seamus Rocca, CEO of Xapo Bank, stated:

“Many long-term Bitcoin holders have avoided crypto-asset-backed lending due to unreliable practices. That’s why we’re doing things differently at Xapo Bank. With over a decade of experience, we’ve created a lending product our members can trust.”

He added that this service provides customers the flexibility to maintain their long-term investment strategy while accessing their Bitcoin’s value when needed.