By Darren Parkin
Xapo Bank has today launched a stocks investment feature within the new ‘Wealth’ section of its mobile app, expanding accessible investment options for non-US members by allowing them to invest in S&P 100 stocks.
The move means Gibraltar-based Xapo Bank, a fully licensed bank that combines traditional banking with access to Bitcoin and stablecoins, can offer non-US members fractional or whole investments in over 100 blue chip stocks with as little as $10.
It comes with a competitive annual interest rate of 4.1% on USD deposits, as well as 1% on Bitcoin deposits.
“At Xapo Bank, we always encourage portfolio diversification and sensible investing,” said Seamus Rocca, CEO of Xapo Bank.
“Medium to long term investing in S&P 100 stocks is a well recognised way of achieving long term wealth so we wanted to make it accessible to everybody. By opening up access to the US stock market for our international members, we are providing them with the best tools available to grow their wealth and ultimately democratising access to a highly desirable market. In one application, you can now hold Bitcoin, a high interest USD savings account and your stock investments, all without being limited by where you live.”
Xapo Bank is partnering with DriveWealth, which is a member of the Securities Investor Protection Corporation, to roll out the ‘Stocks’ feature with an added security layer. Under the partnership, Xapo Bank members’ securities held with DriveWealth through its Wealth offering are protected up to $500,000.
