TechFlow news — On August 5, according to Cointelegraph, Xapo Bank announced its official entry into the UK market, becoming the first bank to launch interest-bearing Bitcoin and fiat currency accounts. After obtaining a local banking license, the bank has introduced new services allowing customers to hold Bitcoin (BTC) and U.S. dollar accounts. Customers can deposit up to £1 million (approximately $1.275 million) and make payments to UK wallets and bank accounts.
Seamus Rocca, CEO of Xapo Bank, said transferring the banking license to the UK was no easy task, but they are eager to expand their local membership. Joey Garcia, Head of Regulatory Affairs, described the entry into the UK market as a "unique" opportunity, emphasizing that the UK is rapidly becoming a global hub for cryptocurrency innovation, with a robust regulatory framework and a vibrant financial ecosystem.
