Business Daily Media

Men's Weekly

.

Xapo Bank Announces Updated Member Benefits Including 4.1% interest on US Dollars, 1% Interest on Bitcoin, and GBP Transfer Capabilities through the Faster Payment System (FPS)

BANGKOK, THAILAND - Media OutReach - 21 March 2023 - Xapo Bank, the world's first international private bank to combine traditional banking with Bitcoin, has announced its members worldwide will earn an interest rate of 4.1% on US Dollar deposits*.

Xapo Bank has also introduced 1% interest on Bitcoin, divided over the year and paid out daily, and from this week, Xapo Bank has also added support for GBP through the Faster Payment System. This means members will be able to make payments directly to UK Banks and participating territories as well as to wallets like Wise, Revolut or many exchanges.

FBruegg.jpg

This interest increase on US Dollar deposits doubles the rate the bank previously offered and is significantly higher than the industry average. The raise is part of the bank's interest rates restructuring, which is based on market conditions and aims to ensure that Xapo Bank members can continue to earn sustainable returns on their deposits.

Before the increase to 4.1%, Xapo Bank was paying a 2% interest rate on USD deposits, an already-competitive rate in today's market. This latest increase brings Xapo Bank far above the industry average, making the Gibraltar-based financial pioneer's proposition particularly attractive to consumers. Xapo Bank members also receive protection on fiat deposits up to 100,000.00 US Dollars. This guarantee is provided by the Gibraltar Deposit Guarantee Scheme – a robust level of protection that's equivalent to that provided by leading banks in Europe and the UK.

Xapo Bank's 4.1% interest rate on US dollars and 1% interest rate on Bitcoin is available to all new and existing members around the world.

Seamus Rocca, CEO of Xapo Bank, said: "We are committed to helping our members grow and protect their wealth in a responsible manner. Offering a market-leading interest rate is just one of the ways we do this, alongside operating to some of the highest global standards of private banking and security."

Xapo Bank's decision to introduce GBP payments comes in reaction to uncertainty and turbulent markets.

Seamus Rocca continued: "The ongoing issues related to bank closures in the US and the increased regulatory pressures around crypto could certainly push players to look for alternative jurisdictions and maybe even alternative currencies in which to operate.

"Xapo Bank took a business decision in 2019 to sell our Institutional Custody business and focus on retail, so we are not a B2B bank in the same way that Silvergate or Signature are. Consumers are expressing the need for trusted institutions in the space that offer diverse routes to transfer and receive their funds in a crypto-native way. In addition to its existing Bitcoin offering and its integration into the Faster Payment System, as of this week, Xapo Bank is also activating USDC payments, enabling members to send and receive USDC to their Xapo Bank account, promptly and without any transfer fees."

These updates follow Xapo Bank's recent announcement that it has become the only fully licensed private bank in the world to partner with Lightspark and integrate with the Lightning Network to enable lightning-fast Bitcoin payments for its customers. The partnership enables Xapo Bank members to pay for small purchases of up to $100 instantly to any vendor who accepts Lightning payments without suffering high transaction fees and long blockchain confirmation waiting times.

To explore the range of accessible and safe private banking benefits that Xapo Bank offers and to apply for membership, visit: https://www.xapo.com/membership

EDITOR'S NOTES
*Interest rates may vary and can be paid in any supported currency.

Hashtag: #XapoBank




The issuer is solely responsible for the content of this announcement.

About Xapo Bank

Xapo Bank is the world's first international private bank to combine traditional banking with Bitcoin, experienced via an app built on a next-generation secure digital platform.

Xapo Bank originated as cryptocurrency wallet Xapo, founded in 2013 by Wenses Casares. The dream behind Xapo Bank is a world that enjoys economic freedom and wealth protection, no matter where you live or who is running your country. Members of Xapo Bank enjoy the freedom of knowing that their wealth is protected, have instant access to US dollars, can immediately buy and sell their Bitcoin, and exchange USDC to USD instantly in the most secure and safe way possible.

Xapo Bank renders its services through fully regulated entities within the legal jurisdiction of Gibraltar, a rock-solid jurisdiction with a 300-year history of stability and UK standards of law and protection of property rights. Xapo Bank and Xapo VASP are fully segregated and regulated by the Gibraltar Financial Services Commission (GFSC), and all members' fiat deposits are protected up to 100K Euros under the Gibraltar deposit guarantee scheme.

Xapo Bank has a global branch in Gibraltar that members can visit anytime and currently has a 100% remote workforce of 200 Xapiens.

News from Asia

Rhenus 4PL Solutions Brings Digital Logistics Expertise Support To The Circular Economy Initiative Of Looper Textile Co. And REMONDIS

Circular textiles at industrial scale: Looper Textile Co. collects, sorts and processes up to 150 million garments annually for reuse and recycling. Digital coordination by Rhenus...

ISCA and SHICPA Sign MOU to Strengthen Support for Accountancy Professionals and Firms in Shanghai

SINGAPORE - Media OutReach Newswire - 8 July 2025 - The Institute of Singapore Chartered Accountants (ISCA) and the Shanghai Institute of Certified Public Accountants (SHICPA) have signed a Memora...

Proscenic Launches Major Prime Day 2025 Sale with Up to 40% Off Best-Selling Vacuums Starting at €89

SHENZHEN, CHINA - Media OutReach Newswire - 8 July 2025 - Smart home innovator Proscenic is kicking off Prime Day 2025 with one of its biggest sales yet, offering up to 40% off its top-rated vacuu...

Arrow Electronics Launches Engineering Solutions Center to Support Tech Innovation Across India and Southeast Asia

BANGALORE, INDIA - Media OutReach Newswire - 9 July 2025 - Arrow Electronics, a global provider of technology solutions, today announced the launch of its new Engineering Solutions Center(ESC) in ...

XIXILI Introduces Jelly Padded Bras: A Game-Changer in Everyday Comfort

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 9 July 2025 - Renowned for empowering women through inclusivity and thoughtful design, XIXILI announces the arrival of its latest bra collection:...

Jurassic World: The Experience Roars Into Bangkok - 8 August 2025 At Asiatique The Riverfront Destination

BANGKOK, THAILAND - Media OutReach Newswire - 9 July 2025 - Asset World Corporation (AWC), Thailand's leading integrated lifestyle real estate group, together with NEON and Universal Destinations ...

Health2Sync and Novo Nordisk Pharma Korea, Ltd. Launch Smart Cap Mallya® for FlexTouch® Insulin Pens Integration in South Korea, Enhancing insulin administration via Digital Diabetes Care

SEOUL, SOUTH KOREA - Media OutReach Newswire - 9 July 2025 - Health2Sync, Asia's leading digital chronic disease management platform, announced the successful integration of Smart Cap Mallya® for ...

E-commerce Platform Wildberries Pilots Its Own Taxi Service

MINSK, BELARUS - Media OutReach Newswire - 9 July 2025 - Wildberries, a leading e-commerce platform in Eurasia, has begun testing its own ride-hailing service in Belarus. The company expects the n...

DYXnet Awarded ISO/IEC 42001 AI Management System Certification by SGS

Leading the New Era of AI in Hong Kong's Telecommunications Industry HONG KONG SAR - Media OutReach Newswire - 9 July 2025 - DYXnet, a wholly-owned subsidiary of VNET Group, Inc...

Prince Foundation Extends Support for Children’s Healthcare in Cambodia Through Cambodia Kantha Bopha Foundation, Reflecting Commitment Guided by Neak Oknha Chen Zhi

PHNOM PENH, CAMBODIA - Media OutReach Newswire - 9 July 2025 - Prince Foundation, the philanthropic arm of Prince Holding Group under the leadership of Neak Oknha Chen Zhi, has reaffirmed its ong...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

The Next Generation of Maritime Sustainable Solutions

As organizations globally seek innovative ways to improve sustainability and their impact on Earth, the American Waterways Operators (AWO), a lead...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

Sell by LayBy