Xapo provides insured bitcoin custody through deep cold‑storage vaults and consumer wallets. Private keys are held under armed guard and the vault servers are never online. The company spent two years in stealth managing bitcoins for large institutional clients and is now opening its service to consumers. Users can create wallets and move coins into vaults for an annual custody fee of 0.12% of the vault balance; wallets are protected by a four‑digit PIN. Xapo emphasises multiple layers of physical and procedural security across different continents to prevent both external hacks and insider theft. The company positions the vault like a savings account and the wallet like a checking account and says it does not intend to become an exchange. The recent financing will fund the significant security and insurance infrastructure needed to convince insurers to underwrite stored bitcoins.

Total raised

$20M

Funding rounds

1

Latest round

Series A

Latest activity

Mar 2014