Xapo Bank launches Bitcoin-backed USD loans targeting hodlers

Available to pre-approved customers, Xapo Bank’s Bitcoin USD loans target long-term hodlers who can now access loans of up to $1 million.

Xapo Bank, a global cryptocurrency-friendly bank headquartered in Gibraltar, is betting on crypto lending revival by launching Bitcoin-backed US dollar loans.

Qualifying Xapo Bank clients can now access Bitcoin (BTC) loans of up to $1 million, the firm said in an announcement shared with Cointelegraph on March 18.

The new lending product is designed for long-term Bitcoin hodlers who want to access cash while keeping their BTC, Xapo Bank CEO Seamus Rocca told Cointelegraph.

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