Gibraltar-based bank introduces Bitcoin-backed loans, offering up to $1M in crypto credit

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Gibraltar-based bank introduces Bitcoin-backed loans, offering up to $1M in crypto credit

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Gibraltar-based bank introduces Bitcoin-backed loans, offering up to $1M in crypto credit

//business-finance.news-articles.net/content/202 .. ed-loans-offering-up-to-1m-in-crypto-credit.html

Published in Business and Finance on Wednesday, March 19th 2025 at 11:21 GMT by Cryptopolitan

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

Xapo Bank declared that its members can now access loans and lending backed by Bitcoin, enabling them to use their holdings as collateral.

The Gibraltar-based bank, Xapo Bank, has introduced a new financial product allowing customers to take out loans backed by their Bitcoin holdings, offering up to $1 million in credit. This service enables clients to leverage their cryptocurrency without selling it, providing liquidity while potentially benefiting from future increases in Bitcoin's value. The loans are available in USD, EUR, GBP, and XAUT (tether gold), with interest rates starting at 7.5% for a 12-month term. This move reflects a growing trend of traditional financial institutions integrating cryptocurrency into their services, aiming to attract crypto-savvy customers by offering innovative financial solutions.

Read the Full Cryptopolitan Article at:
[ https://www.msn.com/en-au/money/markets/gibraltar-based-bank-introduces-bitcoin-backed-loans-offering-up-to-1m-in-crypto-credit/ar-AA1BbZrj ]