Xapo Bank becomes first UK bank to offer interest-bearing Bitcoin and fiat accounts

Xapo Bank has become the first UK private bank to offer interest-bearing accounts for both Bitcoin and fiat currencies after successfully passporting its banking license from Gibraltar, according to The Block. The bank offers a 1% interest yield on Bitcoin without requiring staking or locking up assets. Additionally, users can spend Bitcoin via a debit card, make GBP payments, invest in the S&P 500 and use stablecoins with USD accounts. Earlier this year, Xapo Bank also announced support for Bitcoin deposits via the Lightning Network.