**Xapo Bank Enters UK Market with Bitcoin Banking Services**

Gibraltar-based Xapo Bank has officially launched in the UK after securing a local banking license. This makes Xapo the first licensed bank in the UK to offer a combined interest-bearing USD and Bitcoin account.

**Key Features:**

- Customers can send up to £1 million ($1.275 million) and make payments to UK wallets and bank accounts.

- Bitcoin accounts yield 1% without staking, lending, or locking assets.

- Users can spend Bitcoin like fiat with a universally accepted debit card.

- Additional services include investing in S&P 500 stocks and acquiring select cryptocurrencies.

- Integration of stablecoin payment rails with USD accounts.

**Leadership Insights:**

CEO Seamus Rocca highlighted the challenges of entering the UK market but expressed eagerness to expand local membership. Joey Garcia, head of regulatory affairs, emphasized the UK's emerging role as a global crypto hub.

**UK Crypto Landscape:**

The UK is positioning itself as a leader in the crypto space, with the Financial Conduct Authority estimating that 10% of UK adults held cryptocurrencies in 2023. Other financial services providers like Revolut and Kraken have also recently secured local authorization, indicating a growing market.

Stay tuned for more updates on the evolving UK crypto scene!