{"id":34262,"date":"2020-12-31T09:54:19","date_gmt":"2020-12-31T07:54:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34262"},"modified":"2025-08-28T17:50:38","modified_gmt":"2025-08-28T14:50:38","slug":"bitcoin-custodian-xapo-to-cease-operations-in-the-united-states","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-custodian-xapo-to-cease-operations-in-the-united-states\/","title":{"rendered":"Bitcoin custodian Xapo to cease operations in the United States"},"content":{"rendered":"<p>The Xapo custody service will cease serving US clients as of March 1, <a href=\"https:\/\/www.coindesk.com\/xapo-discontinue-service-us-customers-in-march\" target=\"_blank\" rel=\"noopener noreferrer\">CoinDesk<\/a> reports.<!--more--><\/p>\n<p>In explaining its decision, the company, in a letter to clients, cited a change in its global business strategy.<\/p>\n<p>The founder Wences Casares stressed that the service&#8217;s target clients are people with savings of between $30,000 and $1 million, primarily in developing markets.<\/p>\n<blockquote>\n<p>\u201cServing the US market will require quite a lot of effort, time and investment; to support it, a separate organisation within Xapo would be required, and it would still yield a worse product than what we can offer internationally,\u201d added Casares.<\/p>\n<\/blockquote>\n<p>Last year, Coinbase, the largest American cryptocurrency company, acquired Xapo&#8217;s custody unit. The deal was reportedly worth $55 million.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Xapo custody service will cease serving US clients as of March 1, CoinDesk reports.<\/p>\n","protected":false},"author":1,"featured_media":34263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1156,26,181],"class_list":["post-34262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-institutional-investors-and-whales","tag-usa","tag-xapo"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=34262"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34262\/revisions"}],"predecessor-version":[{"id":34264,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34262\/revisions\/34264"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/34263"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=34262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=34262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=34262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}