
Xapo Partners with Hilbert Capital to Launch $200M Bitcoin Hedge Fund
While the exact fees are confidential, both companies have promised more competitive rates than the usual 2% management and 20% performance fees in traditional hedge funds.
Bitcoin wallet provider Xapo has announced the launch of a bitcoin debit card – a new product it is lauding as the first to allow virtual currency users similar spending freedoms to traditional debit cards.
While the exact fees are confidential, both companies have promised more competitive rates than the usual 2% management and 20% performance fees in traditional hedge funds.
Xapo Bank offers a unique 1% interest yield on Bitcoin without the need for staking, lending, or locking up assets.
Xapo is also expected to expand beyond its Bitcoin-only by allowing customers to trade Ether as well.
Customers of the bank may now use the world’s largest stablecoin for payments.
Asides from integrating a USDC payment rail, Xapo Bank recently partnered with Faster Payment System (FPS) to extend its global reach.
There have always been a lot of predictions about Bitcoin price. Raoul Pal has also made one. He believes BTC may reach $467,000.
It has become known that payment services gateway Simplex adds support for the Canadian Dollar (CAD) and the Japanese Yen (JPY).
Though some giants left Libra, the Association claims that it has nearly 1500 potential candidates to join. And 180 of them meet its strict requirements.
According to a Greylock spokeswoman, Hoffman “hopes the video gets more people talking about crypto and its evolving role in global commerce.” Greylock invested in cryptocurrency startup Coinbase in 2017.
Coinbase has announced that they acquired Xapo’s institutional business for $55 million. With this move, Coinbase Custody now has around $7 billion in digital assets under control.
Facebook’s major competitor from Latin American social media giant Taringa! is launching a stablecoin-powered reward system for its 27 million users in collaboration with MakerDAO and e-wallet provider Airtm.
Social media giant Facebook breaks the shackles of regulatory bondage as FB stock price soars high following the announcement of its crypto project – Globalcoin.
Coinbase Custody announced that they will be supporting Blockchain Capital (BCAP) deposits and withdrawals. Blockchain Capital’s native token BCAP is one of the very first security tokens for which they conducted an STO in April 2017.
Cred, a decentralized lending ecosystem that facilitates access to credit using cryptos as collateral, is set to disrupt the traditional lending market.
The recent Bitcoin price surge has made many crypto bulls including McAfee and Andy Cheung to believe that Bitcoin will surge to set new all-time highs way above the ‘conservative’ $20,000 in 2019.