Xapo Bank Launches Bitcoin-Based USD Loans with a Maximum Limit of $1 Million

Odaily News Xapo Bank, a crypto-friendly bank based in Gibraltar, announced the launch of a Bitcoin-based US dollar loan business with a loan amount of up to $1 million. It is reported that a major difference in Xapo's Bitcoin loan product is that the bank will not let users re-mortgage collateral, which means that its lending mechanism does not involve customers re-using BTC assets. Eligible Xapo customers can choose a repayment period of 30, 90, 180 or 365 days, and there will be no penalty for early repayment. (Cointelegraph)