Xapo is an online Bitcoin wallet and Bitcoin broker. The company was founded by Wences Casares in March 2014, and has raised $40 million in venture capital.
Vault and Wallet
Xapo’s wallet is a basic web wallet, where Xapo holds control of users’ funds. It connects with Xapo’s debit card, which makes it easy to spend bitcoins at any merchant.
Xapo’s vault is its more secure storage method. After Casares purchased bitcoins, he could not find a good way to secure them. This pushed him to create Xapo’s vault, which allows anyone in the world to store their bitcoins for free using Xapo’s cold storage.
Bitcoin Debit Card
Xapo’s Bitcoin debit card was the first of its kind. It allows users to hold balances in Bitcoin, but spend the coins at any merchant that accepts VISA credit cards. The debit card can also be used to withdrawal cash at any ATM.
The card costs $20 and is available in most of Europe, but not the United States.
Venture Capital Rounds
Xapo: $20 million - First
8-Jul-2014 | Wallet
Investors: Index Ventures, Greylock Partners, Emergence Capital Partners, Yuri Milner, Max Levchin, Jerry Yang, Winklevoss Capital, David Marcus, Crypto Currency Partners
Headquartered: Palo Alto
Country: United States
Xapo: $20 million - First
13-Mar-2014 | Wallet
Investors: Benchmark, Fortress Investment Group, Ribbit Capital, Slow Ventures
Headquartered: Palo Alto
Country: United States