Xapo Bank: Bridging Crypto and Traditional Banking with MiFID Licence Milestone
Xapo Bank has achieved yet another significant milestone in achieving its MiFID licence and being able to offer classic investment services to its global member base.
Why is this a significant milestone? Well, Xapo Bank is the first bitcoin and blockchain-enabled bank in the world, bringing banking integration for stablecoins in February 2023, allowing us to act as a bridge between crypto and banking ecosystems while many Banks have taken the opposite direction. We were also the first Bank to offer Lightning integration and continue to offer a 1% satoshi interest-bearing BTC Savings account at no risk to customers whose assets we do not touch or deploy, but rather fund ourselves through the deployment of our own assets.
Having done that, the extension of our licence allows an even greater bridge through the offering of classic stock selection investment services alongside your blockchain-integrated 4.5% USD Bank Savings account. Having this permission is both unique and significant in showing our commitment to providing a top-notch financial services business, operating to the highest possible regulatory standard to allow investments into equities markets, while also offering integrated and secure access to BTC and the virtual asset ecosystem. Another first in the world.
We are excited to be able to offer our members the chance to protect and grow their wealth through exposure to the markets that they choose, in the most secure and regulated environment possible. Accessing these markets is not an easy task for many people around the world, and we are delighted to be able to offer this to our members, regardless of where they are.
There has been a significant amount of work from our incredible team to achieve this cutting-edge solution, and that hard work and commitment has been instrumental – so a huge thank you and congratulations to the Xapo team. Hopefully the first of a few exciting pieces of news that we look forward to announcing soon, so keep your eyes peeled.
