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Crypto Bank Xapo Snags European Broker License, Will Offer Stocks Like Apple

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Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

The company is expanding beyond its bitcoin-only strategy, too, and will let customers trade Ethereum’s ether .

Xapo’s recently granted Markets in Financial Instruments Directive license adds another plank to the firm’s vision, which is much more about straightforward, long-term investing versus the sort of speculative trading strategies crypto is famous for, Xapo CEO Seamus Rocca said in an interview. “Banks are adopting crypto, but only for institutional services. Not for people like you and me. That’s where I think we were breaking the mold. We could see the need to build a bank that bridges crypto with day-to-day use cases because traditional banks weren’t going to do it,” Rocca said.

Rocca also revealed Xapo will soon be breaking the mold in another way: namely the firm’s long-standing strategy of only offering a single cryptocurrency: bitcoin.

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