Golden Finance reports that Bitcoin custodian and licensed private bank Xapo Bank has partnered with Circle to become the world’s first licensed bank to integrate USDC payment rails as an alternative to SWIFT. By adding outrails to its existing USDC onramp, Xapo Bank enables members to bypass expensive and time-consuming SWIFT payments and instead make deposits and withdrawals via stablecoins, at no fees from Xapo Bank. The bank offers a 1:1 exchange rate from USDC to USD. All USDC deposits with Xapo Bank are automatically converted to U.S. dollars, meaning members can enjoy a 4.1% APR return on their deposits.
