Custody Service Xapo Will Cease to Operate in the US
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Dec. 31, 2020
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Custody service Xapo will stop to offer its services to US customers as of March 1, CoinDesk reports.

According to the company, it has made this decision due to a change in its overall business strategy.

Xapo founder Wences Casares has said the target customers of the service are people with savings between $30,000 and $1M, mainly in emerging markets. He added:

"Serving the US market would require quite a lot of effort, time and investment, it would require a separate organization within Xapo to support it and it would still yield a worse product than what we can offer internationally."

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Last year, the custody division of US crypto exchange Coinbase acquired Xapo for about $55M.

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