Xapo Bank announced its official entry into the UK market, becoming the first bank to offer interest-bearing accounts for both Bitcoin and fiat currencies.

TechFlow news, August 5th, according to Cointelegraph, Xapo Bank announced its official entry into the UK market, becoming the first bank to launch interest-bearing Bitcoin and fiat currency accounts. After obtaining a local banking license, the bank launched new services that allow customers to hold Bitcoin ($BTC) and US dollar accounts. Customers can send up to 1 million pounds (approximately 1.28 million US dollars) and make payments to UK wallets and bank accounts.

Xapo Bank's CEO Seamus Rocca said that transferring the banking license to the UK was not an easy task, but they are eager to expand their local membership. Joey Garcia, the head of regulatory affairs, described entering the UK market as a "unique" opportunity, emphasizing that the UK is rapidly becoming a global center for cryptocurrency innovation, with a robust regulatory framework and a vibrant financial ecosystem.