Gibraltar-based Xapo Bank Reports Record Bitcoin Trading Volume
Gibraltar-based Xapo Bank, a digital asset-friendly regulated bank, has announced that Bitcoin trading volume reached record highs in the first quarter of 2025, marking a 14.2% increase compared to the previous quarter. The surge in trading activity is attributed to strong Euro and USDC deposits, as bitcoin prices experienced a dip below $100,000 during February.
Xapo Bank reported that BTC buy orders rose to 50.7% in February, up from an average of 41% in Q4 2024, capitalizing on the price correction. Additionally, Euro deposits at Xapo Bank increased by 50% in total volume, driven by concerns over the US dollar and potential recession, while USDC deposits rose by 19.8%. In contrast, USDT deposits fell by 13.4% amid Tether’s withdrawal of its euro-backed stablecoin.
Gadi Chait, Head of Investment at Xapo Bank, emphasized that despite short-term market turbulence, the long-term outlook for bitcoin remains strong, reinforcing the bank’s commitment to a bitcoin-first approach.