According to Cointelegraph
Gibraltar-based cryptocurrency-friendly bank Xapo Bank has reported a surge in its Bitcoin trading volume for the first quarter, as its high-net-worth members bought Bitcoin during market volatility.
Xapo Bank stated that compared to the fourth quarter of 2024, the first quarter saw a 14.2% increase in Bitcoin trading volume, driven by a decline in Bitcoin prices that boosted trading activity on its platform. The company noted that during the Bitcoin downturn, its high-net-worth members were “actively buying the dip,” reflecting their “commitment to Bitcoin’s long-term potential.”
According to data from Coinglass, Bitcoin’s return rate for the first quarter of 2025 was -11.82%, marking the worst start since 2018.
Xapo started in 2013 as a Bitcoin wallet and custody service provider, renowned for securely storing Bitcoin in Swiss mountain bunkers. It has since evolved into a regulated bank (overseen by the Gibraltar Financial Services Commission and authorized to provide certain regulated services in the UK), offering Bitcoin-related financial services. In March of this year, Xapo announced the launch of Bitcoin-backed loans, designed for long-term holders, allowing them to access cash without needing to sell their Bitcoin.
