Is Xapo Bank crypto friendly?

Yes. Bitcoin and stablecoins are the core product, though the bank publishes no policy on transfers to exchanges.

CBL Score: 14 of 16

Criterion	Score	Source
Accepts exchange transfers	yes (2)	unverified
Stablecoin off-ramp	yes (2)	source · checked 8 September 2026
Business accounts for Web3	yes (2)	source · checked 8 September 2026
Custody	yes (2)	source · checked 8 September 2026
Staking and yield	partial (1)	source · checked 8 September 2026
Card	yes (2)	source · checked 8 September 2026
Multiple jurisdictions	partial (1)	source · checked 8 September 2026
Open to retail	yes (2)	source · checked 8 September 2026

Total 14 of 16. Yes scores 2, partial 1, no 0. A secondary source is press or a third party rather than the bank or its regulator. Unverified means no source could be found; the score stands until one is.

Score history

Scores are revised when a bank's documents change. Each revision is dated and sourced.

8 September 2026

Business accounts for Web3

no to yes

source

Standing

Jurisdiction	Gibraltar
Type	Crypto-native
Health tag	Solid Full Gibraltar banking licence, profitable since 2023. Disclosure is thinner than listed peers. · checked 26 August 2026
P2P tolerance	Unknown Built as a crypto bank, so crypto-linked transfers are its core business. Too few first-hand P2P reports to tag with confidence. · community-reported, separate from the score
Last verified	14 September 2026

What Xapo Bank allows and blocks

Allowed

Bitcoin deposits and withdrawals, on-chain and over Lightning (Lightning capped at USD 1,000 per invoice and USD 5,000 per 24 hours)
USDC on Ethereum or Solana and USDT on Ethereum or Tron, converted to USD in the account on arrival
USD, GBP and EUR in and out over SWIFT, FedACH, FedWire, SEPA, SEPA Instant and Faster Payments
Interest paid daily in Bitcoin: 3.35% variable on USD savings and 0.25% variable on Bitcoin, on balances up to 2 BTC
A metal, standard or virtual debit card with no FX markup and up to 1% cashback in Bitcoin
Accounts for businesses, trusts and qualifying financial institutions, including exchanges and digital asset treasuries
Bitcoin custody through Xapo VASP Limited, a GFSC-regulated DLT provider, held 1:1 with MPC key sharding

Blocked or restricted

US residents, citizens and US entities, plus a list of 27 other countries including Russia, Ukraine, Venezuela and Nicaragua
Third-party USD payments over ACH or FedWire: USD must move between accounts in the member's own name, or be business payments such as payroll
UK residents cannot make USD transactions and cannot use lending products
Any digital currency other than Bitcoin sent to a Bitcoin address is lost; the VASP terms say Bitcoin is the only supported digital currency
Institutional accounts cannot pay suppliers or run payroll; every transfer must match the entity's own name
Accounts can be suspended or limited at the bank's discretion and closed after 24 months without a transaction

The Fine Print

Suspended means locked out: accounts can be blocked at Xapo's sole discretion, including at a third party's request, and you may not reach your funds while blocked.
Your account can close itself: 24 months without a transaction is grounds for immediate closure, and unclaimed balances can incur dormancy fees.
Send the wrong coin, lose it: the service is Bitcoin-only unless stated, and assets sent outside that scope may be lost with no claim.
The good clause: the Bitcoin Reserve, Xapo's own fund covering users after hacks, theft or its bankruptcy, Vault users paid first, with no promise it is big enough.
Small remedy, far away: liability capped at $100 or one month's fees, confidential Gibraltar arbitration, no class actions, claims expire after one year.

VASP terms · checked 25 Aug 2026 · source

Opening an account

You need a valid government ID such as a passport, proof of address, and a live photo or video check in the app.
The membership fee is USD 1,000 a year, deducted in full once the balance reaches USD 1,000 or the same in Bitcoin. Cancel within 30 days for a full refund.
The bank does not publish a verification time. Reviews and Trustpilot complaints describe delays from strict KYC checks.
Residents of the United States and 27 other countries are turned away. UK residents get an account but no USD rails and no loans.
There is no minimum balance, but the fee makes the account a poor fit for small balances.

Fees that matter

Account maintenance is USD 1,000 a year. Dormant accounts pay USD 50 a year on fiat and USD 100 a year on crypto.
SWIFT out costs 0.2% plus the USD equivalent of GBP 25. SWIFT in costs 0.3% for USD and 0.8% for other currencies. FedACH in is USD 0.50 plus 0.1%, FedACH out is USD 30 plus 0.15%. SEPA and Faster Payments cost pennies.
Bitcoin trading spread is 0.29%. Lightning carries no Xapo fee and at most 15 sats of routing. USDC on Ethereum converts 1:1 with no fee, Solana USDC carries a 0.10% spread, USDT converts at a market rate. Blockchain fees apply on stablecoin transfers.
Card: no issuance fee, one free replacement a year then USD 25, no FX markup, ATM free up to USD 100 a month then 2%.
Fiat deposits are covered by the Gibraltar Deposit Guarantee Scheme up to the USD equivalent of GBP 120,000. Bitcoin is not covered by any deposit guarantee.

Regulatory history

2021	Gibraltar approved a full credit institution licence for Xapo Bank Limited (GFSC Permission No. 23171), after the earlier e-money licence was surrendered. source
2024	Xapo passported its Gibraltar licence into the UK in August 2024, offering interest-bearing USD and Bitcoin accounts to UK residents; Xapo VASP Limited operates as a GFSC DLT Provider under Permission No. 26061. source
2026	Depositor information sheet updated January 2026 confirms fiat deposits are covered by the Gibraltar Deposit Guarantee Scheme up to the USD equivalent of GBP 120,000. Bitcoin is not covered. No fines or public warnings found. source

Questions about Xapo Bank

Does Xapo Bank let me send money to Kraken or Coinbase?

Xapo does not publish a policy on transfers to exchanges. USD over ACH or FedWire can only go to accounts in your own name or to business payments such as payroll, which may rule out an exchange's pooled bank account. Bitcoin and stablecoins move freely, so most members move value on-chain instead of by wire.

Can I deposit USDT or USDC into Xapo Bank?

Yes. Send USDC on Ethereum or Solana, or USDT on Ethereum or Tron, and the bank converts it to USD in your account on arrival. USDC on Ethereum converts 1:1 with no fee, Solana USDC carries a 0.10% spread, and USDT converts at a market rate. A blockchain fee applies on the transfer.

How much does Xapo Bank cost per year?

The membership fee is USD 1,000 a year, taken in full once your balance reaches USD 1,000 or the equivalent in Bitcoin. You get a full refund if you close the account within 30 days. Dormant accounts pay USD 50 a year on fiat and USD 100 a year on crypto.

Is Xapo Bank available in the US or UK?

US residents, citizens and US entities cannot join. UK residents can open an account since the 2024 passporting, but they get no USD transactions and no lending products, so they work in GBP over Faster Payments and EUR over SEPA.

Closest alternatives

14/16Wirex
Yes. Crypto moves freely in and out, but the card cannot buy crypto elsewhere and the old app lost its crypto features in the EEA on 30 June 2026.15/16AMINA Bank
Yes, but only for professional clients and companies. Individuals need CHF 500,000 in assets plus finance experience, or CHF 2 million.

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