PANews reported on November 27th that, according to The Block, Xapo Bank's yield-based Bitcoin lending product, the Xapo Byzantine BTC Credit Fund, has officially opened to a wider range of accredited investors after attracting $100 million in member funds in its initial phase. The fund deploys user-deposited Bitcoin through a fully institutionalized lending process, with loan decisions overseen by the investment committee of independent investment manager Hilbert Group. It aims to provide long-term Bitcoin holders with a low-risk, stable-return wealth management tool. Tommy Doyle, Head of Global Client Relationships at Xapo Bank, stated, "The Xapo Bitcoin Credit Fund perfectly complements our portfolio of Bitcoin wealth products, offering stable returns for our long-term Bitcoin holders with a low-risk appetite." According to the fund's terms, participation is limited to accredited investors and may involve minimum investment thresholds and due diligence assessments.

Earlier this year, Xapo, primarily known as a cryptocurrency custody firm, began offering Bitcoin-backed dollar loans of up to $1 million. Xapo was also the first bank in the UK to offer interest-bearing Bitcoin and fiat currency accounts.