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Xapo

Bitcoin banking service and savings account

Xapo logo
101-200 employees
  • Fintech
  • B2C
  • B2B
  • Cryptocurrency
  • Investing
  • Blockchain
Gibraltar

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Company mission

Xapo Bank's mission is to empower its clients with the freedom to transact, earn interest and invest globally while simultaneously embracing the full potential of Bitcoin.

Our take

The invention of blockchain technology has given rise to many cryptocurrencies over the last decade, with tokens such as Bitcoin presenting promising investment potential. However, purchasing Bitcoin is usually associated with volatile trading as opposed to savings accounts, showing a gap in the market for long-term traditional investors.

Xapo provides a Bitcoin banking service and savings account, combining traditional banking infrastructure with blockchain technology to offer savings accounts with up to 2% annual interest. Access to the bank requires a membership application with the company focussing on high-volume investors, protecting every account with dedicated account managers and cutting-edge security whilst providing additional benefits such as payment cards and ATM withdrawals.

The company will undeniably face significant competition from cryptocurrency trading giants such as Binance and Coinbase. However, Xapo has taken a smart approach of combining Bitcoin investment with traditional banking, recognizing that many people seek a more stable and long-term relationship with crypto. In 2023, it launched a Single Euro Payments Area (SEPA) payment feature and integration with Faster Payments System, exemplifying the digital bank's firm rooting in the European financial market.

Kirsty headshot

Kirsty

Company Specialist at Welcome to the Jungle

Benefits

  • Shape the Future: Improve lives through cutting-edge technology, work 100% remotely from anywhere in the world
  • Great work-life balance: Build amazing things with a balance of autonomy and collaborative teamwork. Set your own work schedule and make use of a flexible PTO plan when you need to recharge
  • Expect Excellence: Collaborate, learn, and grow with a high-performance team. Learn how you learn best - from books to conferences, you’ll get a yearly budget for your individual learning and development goals

Company values

  • Trustworthy - Our members trust us with their wealth. We take this very seriously
  • Global - We do not believe in borders. We believe in people. Just like our members, our remote team comes from all over the world
  • Ethical - We strive to do what is right and hold ourselves to the highest ethical standards
  • Inclusive - We advocate for diversity. By working with different people we can co-create a rich and rewarding business for ourselves and our members

Funding (2 rounds)

Jul 2014

$20m

SERIES B

Mar 2014

$20m

SERIES A

Total funding: $40m

This company has top investors

Leadership

Seaumus Rocca

(CEO (Not Founder))

Previously the Group Head of Funding and Liquidity Risk at Standard Chartered Bank, Equity Trading CFO at Macquarie Group and a Finanbce VP for Latin Markets at Credit Suisse.