Xapo Bank’s latest announcement heralds a significant shift in South Asia’s banking landscape. Through Xapo Bank’s mobile application, users can now securely access a USD offshore savings account and Bitcoin wallet, enjoying competitive annual interest rates of 4.1% on USD deposits and 1% on Bitcoin deposits, paid out daily in satoshis, while having instant and unrestricted access to their funds, all managed with the security of a fully-regulated bank.
Users will further benefit from Xapo Bank’s seamless, swift, and secure crypto-to-fiat conversions, enabling them to deposit or transfer USDT and USDC directly to their USD account, where the stablecoins are instantly converted to USD. Users also gain access to Xapo Bank’s global payments infrastructure, allowing them to send and receive British Pounds or Euros via the Fast Payment System (FPS) and Single Euro Payments Area (SEPA) network almost instantaneously. Across withdrawals and deposits, members will enjoy competitive exchange rates managed by Xapo Bank.
Seamus Rocca, CEO of Xapo Bank, said: “Xapo Bank’s decision to accept members across South Asia, including India, represents an opportunity to provide our hybrid banking and investment solutions to its large underserved populations, bridging an important gap in the region’s financial systems and allowing its savvy savers, investors, and professionals the freedom to explore their financial potential with a single mobile application. This is in line with the positive shifts we are witnessing in Asia’s evolving crypto landscape, as well as our mission to make transacting transparently and securely from anywhere in the world as simple as it can be for our members. We’re very excited about this opportunity and hope to add significant value to the region’s rapidly growing banking landscape.”
With its unique payment rails and comprehensive suite of private banking services, Xapo Bank offers its members a robust, efficient, and cost-effective pathway to cross-border banking services and wealth-building opportunities. With this momentous move, Xapo Bank remains committed to empowering its members with faster and cheaper options for cross-border transactions, contributing to the industry's growth and wider adoption.
To learn more about Xapo Bank’s services, visit: https://www.xapo.com/
Hashtag: #xapobank #cryptobanking #india #stablecoins #SEPA #BTC
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About Xapo Bank
Xapo Bank is a fully licensed private bank that combines traditional banking with access to Bitcoin and stablecoins. Founded in 2013, Xapo became one of the most trusted Bitcoin custodians in the industry, providing users with a secure platform to store and transact with their cryptocurrency. Coinbase's custody arm purchased Xapo's institutional custody business in 2019. Pivoting to service solely retail customers, it evolved into Xapo Bank, the first crypto company in the world to obtain a banking license, issued and regulated by the Gibraltar Financial Services Commission. It has since expanded its offerings to include a full suite of private banking services. With this expansion, Xapo Bank is poised to become one of the leading private banks in the world, offering clients a level of security, privacy, and flexibility that is unmatched in the traditional banking industry.