Share this article
Xapo Bank to Enable Tether Deposits, Withdrawals
Earlier this year, the crypto-friendly bank introduced support for USDC.
Updated May 9, 2023, 4:05 p.m. Published May 9, 2023, 2:40 p.m.

Xapo Bank, a crypto-friendly institution based in Gibraltar, will allow customers to deposit and withdraw
The transactions will not incur fees, the 10-year-old bank said in a statement shared with CoinDesk. The tether service will join a similar one for USD Coin (USDC), which the retail-focused bank introduced in March. Since that started, it has received $48 million in USDC deposits and enabled $4.5 million in withdrawals, bank said.
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Xapo Bank has seen a strong appetite for the efficiency of stablecoin deposits and withdrawals from its members, many of whom are based in emerging markets,” it said.
The bank said it offers a 4.1% annual interest rate on deposits.
More For You
Top Stories