Xapo Bank Pioneers USDC Payment Rails: A SWIFT Alternative

Xapo Bank, a Bitcoin custodian and privately licensed bank, is revolutionizing international money transfers. By collaborating with Circle, a global money movement fintech, Xapo Bank is becoming the first licensed bank in the world to fully integrate USDC payment rails. This groundbreaking move promises to bypass the limitations of traditional SWIFT payments, offering a faster and more cost-effective solution for its members.

According to the bank, Xapo Bank's partnership with Circle leverages USDC to offer a viable SWIFT alternative. Xapo has become the first licensed bank in the world to add outrails to its existing USDC on-ramps, enabling seamless transactions. This innovative feature is expected to allow members to bypass costly and time-consuming SWIFT payments and instead deposit and withdraw funds with greater efficiency.

Xapo Bank's adoption of USDC payment rails marks a significant step forward in bridging the gap between traditional finance and the digital asset space. By adding outrails to its existing USDC onramps, Xapo Bank is enabling members to bypass costly and time-consuming SWIFT payments and instead deposit and withdraw funds more efficiently. This makes Xapo Bank a leader in innovative financial solutions.

This integration signifies a pivotal moment, positioning Xapo Bank at the forefront of the financial industry as the first licensed bank integrating USDC payment rails as a secure and efficient alternative to traditional SWIFT transfers.