Xapo Bank has just expanded its offering of US dollar loans backed by Bitcoins, with the goal of supporting the long-term retention of this leading cryptocurrency.
Eligible Xapo Bank members can now access loans of up to $1 million, secured by their Bitcoin, with flexible repayment terms of 30, 90, 180 or 365 days and loan-to-value ratios of between 20% and 40%.
The collapse in 2022 of centralized crypto lenders such as Celsius and BlockFi, which fueled that year's bear market, severely undermined confidence in the sector, making borrowers more cautious.
Xapo Bank's goal is to provide a regulated and trusted platform with responsible lending solutions that meet the need for liquidity and preserve the long-term value of Bitcoin.