Page 29 - Silver Lakes Issue 3 March 2023

FINANCE

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
Xapo Private Bank was specifically “Life is uncertain, especially if you with international trends.
designed with mid-affluent people from are from an emerging economy,”
emerging markets in mind – people says Rocca. “Our founders have lived “We believe that the way the world
like doctors, lawyers, engineers and this experience. That’s why it’s Xapo is heading, it will become more and
entrepreneurs, who aren’t necessarily Private Bank’s mission to solve a very more important to be able to hold and
regarded as ultra-high net worth real problem of financial security interchange both USD and Bitcoin. If you
individuals, but who still have wealth they and stability for its members around can do that within one account with the
want to protect and who have a global the world, who want to find ways to assistance of a private banker in a stable
outlook, says Rocca. protect their hard-earned savings and highly regulated banking jurisdiction,
from country and geopolitical risk, it can help you to secure your wealth for
The bank is designed to offer members and other circumstances outside of the long-term, no matter what happens
long-term investment growth and their control. in the world,” says Rocca.
stability. It offers a deposit guarantee of
up to US$100 000 and interest of 4.1% on “Many people have turned to crypto For more information, visit
USD and 1% on Bitcoin. currencies to overcome these risks, www.xapo.com

INTRAMUROS MARCH 2023 | 27