Xapo Bank expands bitcoin credit fund as it develops ‘suite of BTC wealth products’
Xapo Bank is expanding its yield-bearing Bitcoin Credit Fund, which attracted $100 million in its initial phase.Summary
Xapo Bank is opening its yield-bearing Bitcoin lending product, the Xapo Byzantine BTC Credit Fund, to a wider audience after attracting $100 million in member allocations during its initial phase. Launched in 2024 via a partnership with Hilbert Group, which acts as the investment manager, the fund deploys deposited Bitcoin through an institutional credit process overseen by Hilbert Capital's investment committee, positioning it as a Bitcoin-native savings alternative earning interest on loans. Tommy Doyle of Xapo Bank stated the fund is part of their suite of BTC wealth products designed to deliver consistent yield with low risk for long-term BTC holders. Xapo Bank, known for being the first UK bank to offer interest-bearing bitcoin accounts, is also developing other BTC wealth products, including earlier offerings like bitcoin-backed U.S. dollar loans. The expansion occurs as the broader Bitcoin credit ecosystem rebounds following the 2022 collapses of major lenders like BlockFi and Celsius.
(Source：The Block)