Xapo Bank Partners With BVNK For Its Stablecoin Infrastructure
Xapo Bank Partners With BVNK For Its Stablecoin Infrastructure. Photo By Maria Sidorkina On Unsplash.
Xapo Bank has partnered with BVNK for its infrastructure to enable stablecoin deposits for its global customers, according to Crowdfund Insider. The Gibraltar‑based private bank will allow users to deposit and manage USDC and USDT via BVNK’s enterprise infrastructure, with deposits transferred immediately converted to fiat USD holdings to user accounts.
BVNK has grown in recent years, with over 26 international financial and money transmitter licenses, as well as reports over $15 billion in annual transfers, while Xapo Bank has also enhanced its digital asset operations since Q1 2023 with around $48 million in USDC deposits recorded. The aim of the partnership is to continue accelerating the rapid adoption of stablecoins amongst its client base.
Xapo Bank has recently also announced that its compatible with the layer 1 Tron network, whereby users are able to send USDT balances directly to their accounts, according to the company's press page. It is understood that their team is working on enabling acceptance of USD transfers across the Base and Solana chains too. Xapo offers a 3.9% APY on savings accounts, with more rewards payable in BTC as cashback via their Xapo Bank Card.
Note: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers should conduct due diligence at all times.
This article has been partly researched and aggregated with the help of AI and does not pertain to be an exclusive story. For specific media and public information referenced, please find it below.
https://www.xapobank.com/en/blog/stablecoin-deposits-usdt-tron
