Xapo Bank provides members with access to Bitcoin-assisted loans and loans, allowing Bitcoin Holding to be used as collateral.
The product initially aims to provide several features to protect members’ investments and to facilitate borrowing, but also allows eligible members to hold Bitcoin as a long-term financial product.
By using Bitcoin as collateral, eligible Xapo bank members can access USD funds without selling assets. This preserves the possibility of a long-term valuation of your Bitcoin investment and offers lower short-term loan rates compared to typical credit card providers, while benefiting from flexible repayment terms and robust security measures.
Additionally, eligible members with sufficient Bitcoin Holding can use an in-app calculator to determine borrowing restrictions. During the application process, members can select the desired loan amount with a personalized limit of up to $1 million, with full visibility into the final repayment amount and the applicable interest rate.
Seamus Rocca, CEO of Xapo Bank, commented: The value of Bitcoin is intended to be that Bitcoin is not a strong value but an asset that brings back financial management to your hands. ”
The “Xapo Bank’s Bitcoin Support Loan” was originally created and published by Private Banker International, a brand owned by GlobalData.
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