Xapo Bank enables faster Bitcoin payments with Lightning Network

Xapo Bank, an international private bank headquartered in Gibraltar, integrates the

Bitcoin average confirmation time has seen a huge spike in mid-February amid a massive activity on the Bitcoin network, with the mempool size reaching November 2022 levels. According to data from Ycharts, BTC confirmation time hit nearly 600 minutes on Feb. 19.

Rocca also noted that Bitcoin payments are especially crucial during times of hyperinflation, economic uncertainty and political turmoil.

Founded in 2013, Xapo operates a private bank as well as a Bitcoin custodian and wallet regulated by the Gibraltar Financial Services Commission. The company is known for combining traditional banking with crypto by offering USD and BTC accounts in one place.

Xapo claims that at the peak of its Bitcoin custodianship, the firm held more than 800,000 BTC ($18.7 billion) for family offices, funds and high net-worth individuals. Such an amount of Bitcoin is more than 4% of the entire number of all BTC in circulation.