According to TechFlow, on August 5, Cointelegraph reported that Xapo Bank officially entered the UK market and became the first bank to launch interest-bearing Bitcoin and legal currency accounts. After obtaining a local banking license, the bank launched a new service that allows customers to hold Bitcoin (BTC) and US dollar accounts. Customers can send up to 1 million pounds (about 1.275 million US dollars) and make payments to UK wallets and bank accounts.
Xapo Bank CEO Seamus Rocca said that transferring a banking license to the UK was not an easy task, but they were eager to expand local membership. Regulatory Affairs Director Joey Garcia called entering the UK market a "unique" opportunity, emphasizing that the UK is rapidly becoming a global center for cryptocurrency innovation, with a good regulatory framework and a vibrant financial ecosystem.
