Xapo Bank Launches Bitcoin-Backed USD Loans Up to $1 Million

Edited by: Elena Weismann

Xapo Bank, known for its Bitcoin custody, has introduced Bitcoin-backed USD loans, aiming to revive trust after the 2022 collapses of Celsius and BlockFi. Announced today, the loans offer up to $1 million with 20% to 40% loan-to-value ratios and flexible repayment terms (30, 90, 180, or 365 days). Unlike Celsius and BlockFi, Xapo is a fully licensed bank, hoping to attract users seeking liquidity without selling their Bitcoin. Eligible members can calculate borrowing limits in the Xapo Bank app, with instant USD deposits upon approval and Bitcoin held as collateral. Early repayment is penalty-free. Founded in 2013, Xapo Bank also offers interest-bearing Bitcoin and fiat accounts and enabled Bitcoin deposits via the Lightning Network last May.

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