{"id":35147,"date":"2021-01-21T18:29:57","date_gmt":"2021-01-21T16:29:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35147"},"modified":"2025-08-28T23:55:39","modified_gmt":"2025-08-28T20:55:39","slug":"bitcoin-custodian-xapo-applies-for-a-banking-licence-in-gibraltar","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-custodian-xapo-applies-for-a-banking-licence-in-gibraltar\/","title":{"rendered":"Bitcoin custodian Xapo applies for a banking licence in Gibraltar"},"content":{"rendered":"<p>The custodian service Xapo is in the final stage of obtaining a banking licence in Gibraltar. This was reported by <a href=\"https:\/\/decrypt.co\/54719\/bitcoin-custodian-xapo-set-to-receive-banking-license-in-gibraltar\" target=\"_blank\" rel=\"noopener noreferrer\">Decrypt<\/a>.<!--more--><\/p>\n<p>The Finance Minister of Gibraltar, Albert Isola, emphasised that the custodian has already <a href=\"https:\/\/blog.xapo.com\/xapo-awarded-distributed-ledger-technology-permission-from-the-gibraltar-financial-services-commission\/\" target=\"_blank\" rel=\"noopener noreferrer\">obtained a DLT licence<\/a>. It allows Xapo to operate with electronic money in the region.<\/p>\n<blockquote>\n<p>\u201cXapo has established itself in Gibraltar as a fully fledged bank,\u201d the official added.<\/p>\n<\/blockquote>\n<p>In May 2020, the custodian service <a href=\"https:\/\/blog.xapo.com\/improving-banking-for-you\/\" target=\"_blank\" rel=\"noopener noreferrer\">stated<\/a> that it had begun \u201cexpanding beyond bitcoin to become a digital bank.\u201d In December, the head of Xapo announced that from 1 March the company <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-custodian-xapo-to-cease-operations-in-the-united-states\">will cease serving US customers<\/a>.<\/p>\n<p>The custodian plans to change its global business strategy and focus on emerging markets and clients with capital from $30,000 to $1 million who do not have access to international private banking services.<\/p>\n<p>Founded in 2013, the startup Xapo was among the first to offer simple and user-friendly bitcoin wallets. It is widely believed that its founder, Wences Casares, popularised the leading cryptocurrency among Silicon Valley\u2019s top executives.<\/p>\n<p>In 2019, Coinbase&#8217;s custody arm acquired Xapo. The deal was valued at $55 million.<\/p>\n<p>In June 2020, a trader accused Xapo and Indodax of facilitating the theft of 500 bitcoins.<\/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 custodian service Xapo is in the final stage of obtaining a banking licence in Gibraltar, according to Decrypt.<\/p>\n","protected":false},"author":1,"featured_media":35148,"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":[1944,1156,36,181],"class_list":["post-35147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-gibraltar","tag-institutional-investors-and-whales","tag-regulation","tag-xapo"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35147","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=35147"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35147\/revisions"}],"predecessor-version":[{"id":35149,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35147\/revisions\/35149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/35148"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=35147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=35147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=35147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}