Xapo Bank enters UK market with joint interest-bearing service for USD and Bitcoin

Xapo Bank has officially entered the UK market, becoming the first licensed bank in the UK to offer a joint interest-bearing bank account in US dollars and Bitcoin. According to the announcement, Bitcoin accounts have a yield of 1% without the need to pledge, borrow or lock assets. Xapo said that people with Bitcoin accounts can spend Bitcoin "like legal tender" using "universally accepted" debit cards, while also enjoying other financial services, such as investing in S&P 500 stocks or purchasing specific cryptocurrencies. Seamus Rocca, CEO of Xapo Bank, said that transferring the banking license to the UK was not an easy task, but they were eager to expand local membership. (Cointelegraph)