Crypto Friendly Xapo Bank Expands to India, Rest of South Asia
Xapo's CEO said the move "is in line with the positive shifts we are witnessing in Asia’s evolving crypto landscape"
Gibraltar-based crypto friendly private bank Xapo is to expand across India and the rest of South Asia in a sign of considerable expansion for the provision of cryptocurrency services in the region.
Xapo is to begin accepting members across South Asia, offering services such as its USD offshore savings account offering 4.1% interest and a bitcoin wallet, offering 1% on BTC deposits, according to an emailed announcement on Thursday.
"This is in line with the positive shifts we are witnessing in Asia’s evolving crypto landscape, as well as our mission to make transacting transparently and securely from anywhere in the world as simple as it can be for our members," CEO Seamus Rocca said.
India has a somewhat mixed relationship with crypto, with transactions and a (TDS) provision. However, its status as the world's most populous country and the make it hard to ignore for cryptocurrency firms.
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Edited by Parikshit Mishra.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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