Xapo is a technology company.
Xapo has raised $20.0M across 1 funding round.
Key people at Xapo.
Xapo was founded by Wences Casares (Founder & CEO).
Xapo has raised $20.0M in total across 1 funding round.
Key people at Xapo.
Xapo Bank is a Gibraltar-based private bank and fintech company that integrates traditional banking with Bitcoin and cryptocurrency services, offering secure USD accounts, interest on deposits, Bitcoin custody, and global payments via a single app.[1][2][3] Founded in 2013 as a Bitcoin wallet and vault service, it has evolved into the world's first Bitcoin-enabled bank, providing 4.1% annual interest on USD deposits and 1% on Bitcoin holdings (as of 2023 data), Lightning Network support, debit cards, and stock trading for non-US members, all backed by a 100% reserve model to ensure deposit safety.[2][3] It serves global entrepreneurs, crypto investors, and privacy-focused users seeking seamless fiat-crypto bridging without geographic limits.[3]
Xapo was founded in late 2013 by Wences Casares, its CEO inspired by Argentina's economic instability—including inflation, deflation, and devaluation—that devastated his family's finances—and COO Federico Murrone.[1] Casares bought his first bitcoins in 2011 but struggled with secure storage, leading him to build a personal "vault" using cold storage; friends and institutions soon requested access, forming the basis for Xapo's Bitcoin wallet service combining vaults with a debit card.[1] Key milestones include launching the wallet and debit card in 2014, securing a New York BitLicense in 2018 (relinquished in 2022), selling its institutional custody to Coinbase in 2019, adding stock trading by 2023, and expanding to the UK in August 2024 as the first to offer interest-bearing Bitcoin and fiat accounts.[1][2]
Xapo Bank rides the trend of crypto-fiat convergence, enabling hybrid banking amid rising Bitcoin adoption and regulatory clarity in jurisdictions like Gibraltar.[1][3] Its timing aligns with post-2022 crypto winters, where users demand secure, yield-bearing options amid volatile markets and institutional interest, bolstered by features like Lightning Network (first bank to offer in 2023) and UK expansion in 2024.[1][2] Market forces favoring it include demand for non-custodial-like safety in a post-FTX era, global payment rails evolution, and Bitcoin's maturation as an asset class, positioning Xapo to influence the ecosystem by normalizing Bitcoin as everyday money for entrepreneurs and investors.[2][3]
Xapo Bank is poised to expand its crypto-integrated banking model, potentially deepening Lightning adoption, adding more stablecoins or assets, and entering additional regulated markets amid growing global Bitcoin treasury trends.[2][3] Rising institutional crypto inflows and regulatory tailwinds could amplify its role, though competition from neobanks and evolving Bitcoin scalability will shape challenges. As a pioneer bridging vaults to full banking, Xapo exemplifies how Bitcoin solves fragmented global finance, fulfilling Casares' vision from Argentina's turmoil.[1]
Xapo was founded by Wences Casares (Founder & CEO).
Xapo has raised $20.0M in total across 1 funding round.
Xapo's investors include Andreessen Horowitz, Benchmark, Digital Currency Group, First Round Capital, Founders Fund, Lightspeed Venture Partners, Jonathan Golden, Zinc, Erik Moore, Greg Kidd, Aaron Levie, Acequia Capital.
Xapo has raised $20.0M across 1 funding round. Most recently, it raised $20.0M Series A in March 2014.
