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Bitcoin-backed loans: Xapo Bank offers up to $1 million
By Davide Grammatica
Xapo Bank relaunches the Bitcoin-backed loans sector, hit hard by the collapse of CeFi platforms such as Celsius and BlockFi in 2022

Loans and Bitcoin: new perspectives
Loans backed by Bitcoin are back in the spotlight for investors following a new initiative from Xapo Bank, a private bank based in Gibraltar, which now offers access to loans of up to $1 million, with flexible repayment plans.
The sector had been severely affected in 2022, when the collapse of the main players Celsius and BlockFi had alienated a large portion of investors, who had since become suddenly cautious about using such products.
However, Xapo Bank has all the necessary authorizations to operate as a traditional bank, and therefore plays on a different field than Celsius and BlockFi.
The bet is that this initiative will rekindle enthusiasm among a certain audience of investors, providing a series of loan solutions that can satisfy the demand for access to liquidity and, at the same time, preserve the long-term value of BTC.
Xapo's move
“Many long-term holders have turned away from crypto-backed loans after seeing opaque lending practices,” said Seamus Rocca of Xapo Bank in an interview with The Block. “We are doing things differently, offering our customers the flexibility to pursue their long-term investment strategy while continuing to access the value of their BTC when needed“.
This new product would allow ”qualified” customers to use their BTC as collateral to access credit in dollars. All this, without having to sell them, provided that the asset price does not fall below the loan-to-value ratio threshold.
Eligible customers will be able to calculate their loan limit directly from the bank’s app, and funds can be deposited directly into their bank account. The BTCs used as collateral, on the other hand, will be held in a vault until repayment.