Xapo Bank Expands Bitcoin Credit Fund Amid BTC Wealth Product Development
According to Xapo Bank, the XapoByzantineBTCCreditFund, launched with Hilbert Group in 2024, is now accessible to all eligible members following initial $100 million early-access funding.
BTC
Summary
Xapo Bank has announced the expansion of its Bitcoin-denominated credit fund, XapoByzantineBTCCreditFund, to all eligible members. The Gibraltar-based bank launched the fund in early 2024 with Hilbert Group, initially limiting access to early members and raising $100 million equivalent before the wider release. The fund is designed to provide stable yields via institutional Bitcoin lending, aiming at long-term holders who want to retain their BTC while generating returns.
Terms & Concepts
- Bitcoin Credit Fund: A pool of funds that issues loans denominated or collateralized in Bitcoin, enabling borrowers to access liquidity without selling their holdings.