Blog Archives

Xapo: “The BitLicense is over-regulation”

Posted on 3rd September, 2014

Xapo founder Wences Casares has weighed in on the “BitLicense” regulatory framework proposed by the New York Department of Financial Services (NYDFS), calling it “over-regulation” that “hinders progress and serves an anticompetitive function” for the still-growing bitcoin industry. In a new post on the Xapo blog, Casares said that the regulation will have a “potentially […]

New Y Combinator-backed bitcoin debit card testing in San Francisco

Posted on 12th August, 2014

If San Francisco-based bitcoin startup Shift Payments has its way, Xapo’s newly launched debit card system may soon have some serious competition. The Y Combinator-backed company announced that it was currently testing a new debit card system enabling users to pay with existing bitcoin and Ripple wallets. If successful, the system would expand to allow […]

Following debit-card controversy, Xapo says it will refund fees

Posted on 5th August, 2014

After days of silence, Xapo has responded to customer concerns about the recently updated fee schedule for their recently released, bitcoin-backed debit card. The Palo Alto-based bitcoin wallet and “vault” service had promised a service with no additional customer costs beyond a one-time $15 activation fee and standard credit card interchange fees, but a revision […]

Xapo’s new bitcoin-powered debit card sparks controversy

Posted on 2nd August, 2014

Secure bitcoin wallet provider Xapo grabbed the attention of cryptocurrency users across the U.S. earlier this year when it announced plans to release a new bitcoin-backed debit card. The card would instantly withdraw a given dollar amount from a Xapo wallet, selling the bitcoin via an exchange in seconds. While some standard interchange fees would […]

Xapo raises $20 million in new funding, $40 million overall

Posted on 8th July, 2014

Multi-service bitcoin startup Xapo announced in a blog post today that the company has secured an additional $20 million in Series A-1 funding, bringing the total invested in the Palo Alto-based company to $40 million. The investment trumps the previous record of $30 million set by bitcoin-processing giant BitPay earlier this year. Although considered something […]

Xapo releases updates about Xapo Debit Card

Posted on 3rd July, 2014

Online bitcoin wallet provider Xapo caught the attention of the cryptocurrency community back in April when it announced plans to debut a credit-card system compatible debit card. After the initial buzz, however, Xapo was relatively quiet about the project. In early June, Xapo founder Wences Casares said that the project was still being actively developed, […]

Report: Xapo bitcoin debit card may launch this month

Posted on 4th June, 2014

Speaking with payment industry trade publication PaymentsSource, Xapo founder Wences Casares said his company’s much anticipated bitcoin-backed debit card will debut later this month. First announced in late April, the debit card is tied directly to a Xapo-hosted hot wallet, with coins instantly sold and converted to local currency. Although other bitcoin services offer debit […]

Xapo unveils new, potentially game-changing bitcoin-based debit card

Posted on 24th April, 2014

One of the biggest frustrations for bitcoin users is the lack of cryptocurrency-accepting merchants. Even if you have a fortune in bitcoin, actually using it in everyday life ranges from being a huge hassle to completely impossible. Bridging the gap between the existing world of bank and credit-card based currency and bitcoin is the billion-dollar […]

“Ultra-secure” bitcoin storage service Xapo rakes in $20 million in VC funding

Posted on 14th March, 2014

If Xapo’s pitch is taken at face value, the California-based bitcoin security company will provide unprecedented levels of protection for user funds. In the wake of the Mt.Gox debacle, it’s not surprising that demand for a safe means of storing bitcoin is a high priority. Venture capital funds seem to think it’s an idea with […]