Xapo Bank collaborated with financial technology company Circle to become the first licensed bank in the world to integrate USDC payment rails as an alternative to SWIFT.
Seamus Rocca, CEO of Xapo Bank, said enabling auto converted USDC deposits and withdrawals at the bank gives crypto members a safe haven for their savings.
"Running 24/7 including weekends, we eliminate the anxiety of keeping your money in exchanges and the hassle of expensive off ramps into traditional banks," Rocca said in a statement.
Xapo Bank, a Bitcoin custodian and a fully licensed and regulated bank, is a member of the Gibraltar Deposit Guarantee Scheme.
Circle enables businesses to use the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide.
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