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Gibraltar-based bank introduces Bitcoin-backed loans, offering up to $1M in crypto credit


Published on 2025-03-19 11:21:49 - Cryptopolitan
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  • Xapo Bank declared that its members can now access loans and lending backed by Bitcoin, enabling them to use their holdings as collateral.

The Gibraltar-based bank, Xapo Bank, has introduced a new financial product allowing customers to take out loans backed by their Bitcoin holdings, offering up to $1 million in credit. This service enables clients to leverage their cryptocurrency without selling it, providing liquidity while potentially benefiting from future increases in Bitcoin's value. The loans are available in USD, EUR, GBP, and XAUT (tether gold), with interest rates starting at 7.5% for a 12-month term. This move reflects a growing trend of traditional financial institutions integrating cryptocurrency into their services, aiming to attract crypto-savvy customers by offering innovative financial solutions.

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[ https://www.msn.com/en-au/money/markets/gibraltar-based-bank-introduces-bitcoin-backed-loans-offering-up-to-1m-in-crypto-credit/ar-AA1BbZrj ]