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Xapo Bank to Add Support for Tether Deposits, Withdrawals by Month End
Gibraltar-based Xapo Bank has further established itself as one of the world’s most crypto-friendly institutions. In its most recent move, the bank is set to allow its clients to make Tether (USDT) deposits and withdrawals, starting from the end of the month.
This implies that customers of the bank may now use the world’s largest stablecoin for payments. Moreover, the development also provides a “faster and cheaper” alternative to the commonly-used SWIFT method. According to the bank, transactions will not incur fees.
Xapo Bank Says There’s High Demand for Stablecoin Payments
It should be mentioned that the 10-year-old bank appears to have a strong interest in stablecoins. In March, the retail-focused bank launched a similar service for USD Coin (USDC). Interestingly, the USDC service has seen at least $48 million worth of deposits and over $4.5 million in withdrawals in the short period.
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