Xapo Bank enters the UK market to promote USD and Bitcoin joint interest-bearing services.

Xapo Bank officially enters the UK market, becoming the first licensed bank in the UK to offer joint interest-bearing bank accounts in US dollars and Bitcoin. According to the announcement, the yield for Bitcoin accounts is 1%, without the need for collateral, borrowing, or asset locking. Xapo states that individuals with Bitcoin accounts can use a "widely accepted" debit card to spend Bitcoin "like fiat currency," while also enjoying other financial services such as investing in the S&P 500 index stocks or purchasing specific cryptocurrencies. Seamus Rocca, the CEO of Xapo Bank, stated that transferring the banking license to the UK was not easy, but they are eager to expand their local membership.