Founding neobanque.ch was born from a deep desire to navigate and simplify the chaotic world of early financial services. Back then, scams and unreliable platforms were everywhere—especially in the Bitcoin space. While traditional banks offered up to EUR 100,000 in deposit protection, that only applied to licensed institutions. Many people stopped doing their homework, assuming that safety net was universal. This gap pushed me to look deeper—into the venture capital, founders, and business models behind financial platforms.
People often skip this step and risk everything. A mistake Wences Casares, Xapo’s founder, knows too well. Growing up in Patagonia, he watched his parents lose everything three times: first to devaluation, then hyperinflation, and finally when the government seized all bank deposits.
The Story of Xapo Bank
Xapo was established in 2013 to offer a trusted solution. Casares built it to make Bitcoin safe and easy to use—especially for non-technical people. Instead of managing private keys, users had a secure place to store their assets. This made a big difference in an industry full of uncertainty.
From Hong Kong to Switzerland — and finally Gibraltar
Xapo began in Hong Kong and also opened operations in Switzerland in 2015. It was a smart move—Swiss regulators were clear, supportive, and experienced. Xapo established an affiliate in Zug, drawn by the country’s neutrality, privacy laws, and crypto-friendly stance. Though it later moved away from Zug—something I personally regret—it helped shape the rise of Crypto Valley.
Today, Xapo Bank is based in Gibraltar, which operates globally and is licensed as a Bank and a virtual asset services provider by the Gibraltar Financial Services Commission. Eligible fiat deposits are protected up to the US Dollar equivalent of EUR 100,000, while Bitcoin deposits remain uncovered. Xapo is one of the first groups that have both a bank and a Virtual Asset Service Provider (VASP) fully licensed.
A Digital Bank with Strong Reserves
Xapo Bank has grown far beyond storage. Its global debit card offers up to 1% Bitcoin cashback on purchases and no foreign exchange fees, blending everyday banking convenience with the stringent security protocols that made it famous. User funds remain completely segregated, ensuring that assets are kept entirely separate and secure. Furthermore, Xapo Bank demonstrates its financial robustness with exceptional capital ratios:
- Capital Ratio: 396%
- Core Equity Tier 1 Capital Ratio: 132.8%
- Liquidity Coverage Ratio (LCR): 3,237.5%
- Net Stable Funding Ratio: 311.6%
(as of January 1, 2024)
These impressive figures prove that Xapo Bank is a real digital bank—not just another crypto wallet. On top of that, its pricing is extremely competitive with no hidden fees, setting it apart from Swiss crypto banks like Sygnum or major exchanges like Coinbase.
What began as a personal search for trustworthy services evolved into a platform to help others do the same. neobanque.ch is here to guide users through a crowded financial world—highlighting the players, the risks, and what’s behind the brand. In an ever-evolving digital landscape, looking beyond surface-level protections is crucial. By learning from pioneers like Wences Casares and understanding the rigorous measures behind services like Xapo Bank, smarter choices can be made to build a more secure financial future.
Source :
https://www.swissinfo.ch/eng/business/bitcoin-vault_xapo-shifting-services-from-hong-kong-to-switzerland/44695988
https://www.microsoft.com/en-us/behind-the-tech/wences-casares-betting-on-bitcoin
Xapo.com