- Xapo has received more than $40 million in funding from investors like Benchmark, Greylock Partners, Index Ventures, Fortress, Ribbit Capital, Emergence, DCG, and AME Cloud Ventures.
Xapo bank comes with innovative and attractive features, which include:
- State-of-the-art protection for you and your wealth in our ultra-secure vault based in the Swiss Alps
- 24/7 customer support
- An international bank account holding USD and bitcoin
- Up to 1.1% cashback when you spend using your Xapo card
- Fee-free multi-currency card transactions
- Entry to airport lounges when you travel
- Free ATM withdrawals of up to $100 per month
- Boingo Wi-Fi for Mastercard® Cardholders
According to Xapo founder, Bitcoin is a non-political global standard of value and settlement
So just like we have a non-political standard of weight and length, we need a non-political standard of value and we don’t have that. So a world in which Bitcoin succeeds is one when you ask for the price of Turkish lira, you get a price in bits, when you ask for the price of oil, you get a price in bits, when as for the price of the U.S. dollar, you get a price in bits.
How to Join Xapo
To join Xapo, you need to download Xapo app for Android and iOS to sign up. You need to be above 18 years old and with a valid passport, proof of address, source of funds, and $150 to cover your annual fee. Unfortunately, as Xapo is remodeling its services after getting a bamking licence, it is not accepting new users at the moment. New users will be accepted after finishing testing phases. You can sign up to receive latest news regarding Xapo online bank launch.
If you’re an existing customer, we’ll invite you to onboard onto the new and improved Xapo app. Want to be one of the first to enjoy our premium service? Add your name to the waitlist and we’ll let you know how we’re progressing with the launch of the new Xapo. Once the new Xapo app is available, you’ll be able to download it and log into your Xapo account using the email and phone number you entered when you first registered for your Xapo account.
- Xapo ended its service to U.S. customers on March 1. A customer email sent on 30, December 2020 read “Due to a change in our global business strategy, Xapo, Inc. is leaving the U.S. market and will be closing all U.S. customer Xapo accounts. As a result, we’ll need you to transfer your funds to an external Bitcoin address.”
Xapo charges an upfront annual fee of $150 for premium banking service. The fee enables Xapo to deliver the safest mode of storage available for USD and bitcoin as well providing access to our full suite of features and tools. The new Xapo card will be sent to customers at no extra cost.
Is Xapo Safe?
Xapo owns a military-grade vault inside a decommissioned bunker in the Swiss Alps. Their servers are located behind reinforced concrete, steel blast doors, and radio-wave-blocking cages. They are also guarded on the ground by a security team. Customers’ deposits are protected up to the US dollar equivalent of €100,000 by the Gibraltar Deposit Guarantee Scheme. Xapo has received Gibraltar banking license and Mastercard and Visa memberships. It is regulated by the Gibraltar Financial Services Commission (GFSC). The GFSC supervises and regulates both fiat currency and crypto transactions.