Regular outbound BTC payments to DeFi brands or exchanges
Setup Bitcoin beneficiaries such as Brokers
Create and download statements for Bitcoin taxes
FCA Licenced Xace™ offers Business Accounts and Personal Accounts to those actively using Bitcoin and moving finances from BTC to fiat currencies such as GBP and EUR.
Bitcoin has created new challenges in finance alongside it's otherwise liberating capabilities. Traditional financial institutions are less likely to provide a Bitcoin bank account where compliance increases their risk of an asset class they are yet to fully understand.
As an SMI financial institution, Xace can provide Bitcoin accounts to those who are compliant. We're an experienced team in the Blockhain accounts and cryptocurrency accounts space, developing the financial tools to enable exchanges, brokers, traders and crypto startups to remain liquid between BTC and fiat currencies.
Even though your account funds may come from Bitcoin payments, all funds are safeguarded with the Bank of England or regulated EU Banks.
Xace accounts are the first to be this accessible to the Bitcoin industry, removing barriers for the new world of finance.
A Xace account is yours, in your name and your control, not like a digital wallet or a shared IBAN.
Although many exchanges and brokers enable the buying and trading of Bitcoin, as those payments increase in frequency and value, the risk increase for traditional banks and your account becomes at greater risk of being closed or restricted. Greater concerns arise on withdrawing fiat currencies like GBP or EUR that have originated from selling bitcoin on an exchange, where your money may be frozen.
With a Xace account, your compliant business or personal account will not face the same restrictions, where our FCA licence is specifically tailored for Bitcoin digital bank accounts and those outside the scope of traditional finance institutions.
Even if you Hodl Bitcoin, the chances are you're going to want to sell to fiat at some point to realise gains or prevent loses, which requires a Bitcoin digital bank account to ensure your funds arrive quickly, securely and without restriction. A Xace personal account is perfect for all individuals active with BTC payments across crypto and fiat.
Your business can scale alongside Bitcoin without causing additional restrictions when it comes to banking Bitcoin related payments, such as delays, holds and even account restrictions, simply by being compliant with existing regulations. Requiring a Bitcoin friendly bank account shouldn't restrict your business and a Xace digital account provides exactly what you need.
Xace's competitive fee structure makes our Bitcoin accounts accessible to all, whether on a Personal or Business account level, ultimately your account usage will determine your fee.
The above is not an exhaustive list. To check if your business, or you, are eligible, please apply for our whitelist.