Xapo Bank launches interest-bearing Bitcoin accounts in the UK

ChainCatcher news, Xapo Bank has issued its banking license in the UK and entered the UK market. Xapo claims to be the first bank in the UK to offer interest-bearing Bitcoin and fiat currency accounts.

According to the statement, its platform claims to provide a 1% Bitcoin interest yield without the need for staking, lending, or locking assets. The company did not disclose details about the source of the interest yield.

Its users can use Bitcoin through Xapo's debit card, send GBP payments directly to UK bank accounts, invest in S&P 500 stocks, purchase selected cryptocurrencies, and access stablecoin payment channels using USD bank accounts.