Page 31 - FWG Issue 2 March 2023

Finance

a very real problem of financial security and
stability for its members around the world,
who want to find ways to protect their
hard-earned savings from country and
geopolitical risk, and other circumstances
outside of their control.

“Many people have turned to crypto
currencies to overcome these risks, but
the reality is the crypto exchanges are
not trustworthy or safe. With all the
unscrupulous exchanges falling over,
people need to be able to offramp their
crypto into a real bank, where it can be
instantly and safely converted into hard
currency. Your money can only be safe in a
regulated bank with strong liquidity, which
is what Xapo is.

“With safety as a first priority, Xapo Bank
made the decision to offer USD bank
accounts, because it is the most stable
and fungible global currency. USD is the
meta currency of the world, backed by the
powerhouse US economy, and will remain
so for the foreseeable future.

“The USD remains the safest option in
terms of long-term value protection. It is a
key lever for long-term wealth and there is
never a bad time to invest in USD.”

Members can also store Bitcoin in their
Xapo account or use it to convert Bitcoin
into USD. “We believe in the long-term
value of Bitcoin because it’s sovereign and
can’t be tampered with, it is fully traceable,
and it is finite. Therefore, it will remain in
demand,” Rocca explains.

Bitcoin, now surging at +39% month-on-
month (at the time of writing), is seemingly
going ‘mainstream’ with the recent
announcement that Pick n Pay is now
accepting Bitcoin payments in over 1 500
retail stores – indicating that consumer
demand for holding and spending Bitcoin
is on the uptake, in line with international
trends.
on a plane or have a European passport to they want to protect and who have a
open a Xapo Bank account or to get access global outlook, says Rocca. “We believe that the way the world
to a private banker. Anyone can apply, and is heading, it will become more and
you can do it from the comfort of your The bank is designed to offer members more important to be able to hold and
livingroom couch.” long-term investment growth and stability. interchange both USD and Bitcoin. If you
It offers a deposit guarantee of up to can do that within one account with the
Xapo Private Bank was specifically US$100 000 and interest of 4.1% on USD assistance of a private banker in a stable
designed with mid-affluent people from and 1% on Bitcoin. and highly regulated banking jurisdiction,
emerging markets in mind – people it can help you to secure your wealth for the
like doctors, lawyers, engineers and “Life is uncertain, especially if you are from long-term, no matter what happens in the
entrepreneurs, who aren’t necessarily an emerging economy,” says Rocca. “Our world,” says Rocca.
regarded as ultra-high net worth founders have lived this experience. That’s
individuals, but who still have wealth why it’s Xapo Private Bank’s mission to solve For more information, visit www.xapo.com

Fourways Gardens • 29 • March 2023