Xapo Bank’s new BTC loan launch comes a few years after the crypto lending industry suffered a major crisis in 2022. The crisis came amid the historic Terra crash and a subsequent bear market that triggered the collapses of major lending providers like Celsius and BlockFi. “The collapse of Celsius, BlockFi, and other centralized lenders significantly eroded trust in the crypto lending space,” Xapo Bank CEO told Cointelegraph.

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Xapo Bank launches Bitcoin-backed USD loans targeting hodlers

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Bitcoin lending was severely impacted in 2022 due to the Terra crash and subsequent bankruptcies of major lending providers like Celsius and BlockFi, but it is making a comeback with Coinbase reintroducing bitcoin-backed loans in January 2025, followed by Xapo Bank in March 2025

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Bitcoin lending was severely impacted in 2022 due to the Terra crash and subsequent bankruptcies of major lending providers like Celsius and BlockFi, but it is making a comeback with Coinbase reintroducing bitcoin-backed loans in January 2025, followed by Xapo Bank in March 2025