Xapo Bank will use USDC as an alternative to SWIFT

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Xapo Bank will use USDC as an alternative to SWIFT

posted on March 23, 2023 by in Blockchain

Xapo Bank has begun a partnership with Circle.
As part of the collaboration, Xapo will become the first federal bank in the world to integrate USDC-based payment services as an alternative to SWIFT.
The bank will convert all Stablecoin deposits at a 1:1 ratio to the U.S. dollar, and will offer an annual rate of 4.1% for holding USDC.
Xapo Bank is a member of the Gibraltar Deposit Guarantee Scheme.

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