COINOTAG News reported on March 18th that Xapo Bank, a prominent cryptocurrency-friendly institution based in Gibraltar, has introduced a new financial product: USD loans secured by Bitcoin. This initiative allows clients to leverage their Bitcoin holdings by accessing credit lines of up to $1 million, thereby transforming digital assets into liquidity without divesting from their investment.
The innovative loan framework offers flexible terms ranging from 30 days to one year, providing borrowers with multiple repayment options tailored to their financial strategies. Moreover, Xapo Bank has eliminated prepayment penalties, further incentivizing users to engage with this alternate financing method. This product champions the dual role of Bitcoin, not only solidifying its position as a store of value but also facilitating access to immediate capital for various financial needs.