The digital bank is the first to offer combined interest-bearing USD and Bitcoin account.
Over the course of 10 years, the company has evolved from a crypto wallet to a licensed bank.
Xapo Bank,
a Gibraltar-licensed digital banking for crypto, has expanded its operations
into the United Kingdom. It has become the first licensed bank in the country to
offer a combined interest-bearing USD and Bitcoin (BTC) account. This move
comes as the UK positions itself as a potential leader in crypto and blockchain
technology, with recent estimates suggesting that 10% of UK adults held
cryptocurrency in 2023.
Xapo Bank Brings
Interest-Bearing Bitcoin and USD Accounts to UK Market
The bank's
entry into the UK market follows the successful passporting of its banking
license. It is an important achievement in a regulatory environment where major
fintech companies have struggled to secure such approvals. Xapo Bank's offering
includes the ability to send funds up to 1 million GBP directly to UK-based
wallets and bank accounts, available 24/7.
“We're
proud to announce we have successfully passported our banking license into the
UK,” Seamus Rocca, CEO of Xapo Bank, stated. “This means we are allowed to
offer our banking services directly to the UK market. Achieving this is no easy
feat and shows we meet the UK's high regulatory standards.”
Founded in
2013, Xapo Bank has evolved from a Bitcoin wallet to a fully-fledged digital
retail bank and VASP custodian. It guarantees USD deposits up to the equivalent
of €100,000, providing a level of security associated with traditional banking
institutions.
One of Xapo
Bank's offerings is a Bitcoin account that yields 1% interest without requiring
staking, lending, or asset lockups. Members can spend Bitcoin using a
universally accepted debit card, invest in S&P 500 stocks, or acquire
select cryptocurrencies. The bank also integrates stablecoin payment rails with
USD bank accounts, bridging the gap between traditional banking and digital
assets.
“The
UK is swiftly emerging as a global hub for cryptocurrency innovation, boasting
a promising regulatory framework, a dynamic financial ecosystem, and a
talent-rich environment,” Joey Garcia, Director and Head of Regulatory and
Public Affairs at Xapo Bank, added.
What's Happening in the
Crypto Industry
Xapo has
secured a new license just as one of the largest cryptocurrency exchanges by
volume exits a key European jurisdiction. Last week, Bybit announced it would
close all existing customer positions by mid-August due to regulatory
pressures.
This move
by Bybit followed a warning from the French financial watchdog, Autorité des
Marchés Financiers (AMF), last May. The regulator pointed out that the exchange
had been operating in France without proper authorization, despite being
blacklisted two years earlier.
Meanwhile, Marathon Digital Holdings, the largest Bitcoin miner on Wall Street, has been fined $138 million. A federal court ruled that Marathon had violated a non-disclosure and non-circumvention agreement with Michael Ho, the Chief Strategy
Officer of Hut 8, a direct competitor.
Additionally,
Riot Platforms, the third-largest Bitcoin mining firm by market cap, recently
announced its acquisition of Kentucky-based Block Mining for $92.5 million.
This significantly increases Riot's hash rate and extends its
operational reach from Texas into new energy markets.
Xapo Bank,
a Gibraltar-licensed digital banking for crypto, has expanded its operations
into the United Kingdom. It has become the first licensed bank in the country to
offer a combined interest-bearing USD and Bitcoin (BTC) account. This move
comes as the UK positions itself as a potential leader in crypto and blockchain
technology, with recent estimates suggesting that 10% of UK adults held
cryptocurrency in 2023.
Xapo Bank Brings
Interest-Bearing Bitcoin and USD Accounts to UK Market
The bank's
entry into the UK market follows the successful passporting of its banking
license. It is an important achievement in a regulatory environment where major
fintech companies have struggled to secure such approvals. Xapo Bank's offering
includes the ability to send funds up to 1 million GBP directly to UK-based
wallets and bank accounts, available 24/7.
“We're
proud to announce we have successfully passported our banking license into the
UK,” Seamus Rocca, CEO of Xapo Bank, stated. “This means we are allowed to
offer our banking services directly to the UK market. Achieving this is no easy
feat and shows we meet the UK's high regulatory standards.”
Founded in
2013, Xapo Bank has evolved from a Bitcoin wallet to a fully-fledged digital
retail bank and VASP custodian. It guarantees USD deposits up to the equivalent
of €100,000, providing a level of security associated with traditional banking
institutions.
One of Xapo
Bank's offerings is a Bitcoin account that yields 1% interest without requiring
staking, lending, or asset lockups. Members can spend Bitcoin using a
universally accepted debit card, invest in S&P 500 stocks, or acquire
select cryptocurrencies. The bank also integrates stablecoin payment rails with
USD bank accounts, bridging the gap between traditional banking and digital
assets.
“The
UK is swiftly emerging as a global hub for cryptocurrency innovation, boasting
a promising regulatory framework, a dynamic financial ecosystem, and a
talent-rich environment,” Joey Garcia, Director and Head of Regulatory and
Public Affairs at Xapo Bank, added.
What's Happening in the
Crypto Industry
Xapo has
secured a new license just as one of the largest cryptocurrency exchanges by
volume exits a key European jurisdiction. Last week, Bybit announced it would
close all existing customer positions by mid-August due to regulatory
pressures.
This move
by Bybit followed a warning from the French financial watchdog, Autorité des
Marchés Financiers (AMF), last May. The regulator pointed out that the exchange
had been operating in France without proper authorization, despite being
blacklisted two years earlier.
Meanwhile, Marathon Digital Holdings, the largest Bitcoin miner on Wall Street, has been fined $138 million. A federal court ruled that Marathon had violated a non-disclosure and non-circumvention agreement with Michael Ho, the Chief Strategy
Officer of Hut 8, a direct competitor.
Additionally,
Riot Platforms, the third-largest Bitcoin mining firm by market cap, recently
announced its acquisition of Kentucky-based Block Mining for $92.5 million.
This significantly increases Riot's hash rate and extends its
operational reach from Texas into new energy markets.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
FTX Auditor Prager Metis to Pay $1.95 Million for Negligence
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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🐦 Twitter: https://twitter.com/F_M_events
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Don't miss out on our latest videos, interviews, and event coverage.
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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