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Xapo Becomes The First UK Bank to Launch Bitcoin Beneficiary Solution for Secure Legacy Planning
Xapo Bank, the only fully licensed bank that makes it simple for members to bank with Bitcoin, has launched a beneficiaries solution – enabling UK and global members to designate multiple beneficiaries for their assets, including Bitcoin.
Approximately seven million adults in the UK (13%) hold crypto but currently lack secure banking options to ensure that they can pass this wealth on to the next generation. What’s more, roughly four million Bitcoins—over 20% of the total supply—are estimated to be permanently inaccessible. This loss highlights a gap in effective inheritance solutions for digital assets. While digital wealth continues to grow, inheritance services for crypto assets remain limited and costly, often involving ongoing fees for simple storage. Many exchanges compound these challenges with complex, lengthy processes for beneficiaries, requiring extensive documentation that can delay access for months.
Xapo Bank’s new solution addresses this critical need, empowering members to ensure their wealth is securely passed on to loved ones. Members can assign all or part of their Bitcoin and fiat assets to beneficiaries in just two steps. Integrated into the Xapo Bank app, this feature enables secure legacy planning in under five minutes, with no ongoing fees. Xapo Bank delivers a comprehensive, one-stop shop for members looking to secure their wealth, currently offering interest rates of 4.1% on USD accounts and 1% on Bitcoin accounts.
Founded in 2013 on a belief in Bitcoin’s value and long-term potential, Xapo Bank reached a significant milestone in August by passporting its banking license into the UK, making it the only licensed banking group there to offer a unique account that combines interest-bearing fiat and Bitcoin balances. This month, Xapo Bank is also set to launch an out-of-home advertising campaign at London’s iconic Bank Station, further expanding its UK membership base.
Seamus Rocca, CEO of Xapo Bank said: “As the UK emerges as a key player in the crypto space, we’re thrilled to bring our Bitcoin beneficiary solution to members here. We know how important it is for people to feel confident that their wealth, including Bitcoin, can be securely passed on to loved ones. With this new feature, our members can rest easy, knowing their financial future is safe.”
Xapo Bank combines the advantages of a fully licensed and regulated bank with top-tier security measures, integrating world-class physical defences—such as military-grade bunkers—and advanced Multi-Party Computation (MPC) technology to safeguard members’ assets. As a member of the Gibraltar Deposit Guarantee Scheme (GDGS), Xapo Bank also ensures protection for USD deposits up to €100,000.
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