Xapo Bank, the private bank unlocking wealth growth opportunities in the Bitcoin era, has introduced 2% cashback on eligible card spending*, building on its recent USD savings interest rate increase to 4.1% APY and 4.6% APY for new members.
Both cashback and savings interest are paid in Bitcoin. The savings offering enables members to earn Bitcoin on their idle USD balances without purchasing Bitcoin directly or converting their savings from dollars.
“With growing questions around technology stock valuations and the sustainability of AI spending, investors are increasingly having to consider where they want to hold their wealth if market sentiment shifts. For those with a long-term conviction in Bitcoin, selling into dollars could mean giving up exposure just as the market approaches a potential turning point,” said Seamus Rocca, CEO of Xapo Bank. “The opportunity is to make Bitcoin work harder without having to sell it, giving people more ways to earn and spend their Bitcoin through everyday banking while continuing to build their holdings.”
The cashback launch further expands Xapo Bank’s wealth offering, which includes Bitcoin savings, the Xapo BTC Credit Fund for eligible members and Bitcoin-backed loans. Over the past 12 months, 43% of Xapo Bank’s current paid members earned Bitcoin through interest on their USD savings, highlighting existing demand for ways to accumulate Bitcoin through traditional banking activity.
The recent rate increase applies automatically to existing paid members across their full USD savings balances, with no cap or additional deposit required. New members joining during the exclusive offer period receive 4.6% APY on balances up to $100,000 for 90 days following settlement of their first membership payment. Balances above $100,000 earn the 4.1% base rate. After the promotional period, the prevailing base rate applies to the full balance. Rates are variable, and members retain instant access to their funds without a lock-up period.
*“The 2% Bitcoin cashback applies to eligible card spending up to 20% of a member’s previous month-end wallet balance (equivalent to dividing that balance by five).”
