A Company Update – A Global HQ for a Global Focus

May 14, 2015

For the past year, Xapo has focused on building its infrastructure to offer the most secure bitcoin storage service available. Deemed the Fort Knox of bitcoin, we’ve set a new standard in bitcoin security and treasury management to become a global and trusted provider and the leading custodian of institutionally held bitcoin in the world.

To better support and accelerate this focus we are moving our headquarters to the global financial center of Zug, Switzerland. Our primary deep cold storage vault is also located in Switzerland, and at the request of our expanding global customer base, now is the time to bring our center of operations closer to the heart of our security infrastructure. The country’s regulatory stability, international neutrality and its deep-seated tradition in global finance also factored into the decision. We will retain a small presence in Palo Alto, California to serve our U.S. customers.

While it should be unimaginable that major institutions would hold millions of dollars in cash, many corporations today still follow an analogous practice with respect to bitcoin by using insecure storage techniques like paper wallets or printed key backups.

By contrast, our fiduciaries are protected by our vault, which uses private keys that never touch the client or the internet and are buried deep within geographically dispersed, heavily guarded locations with multi-signature technology for transaction signing. We have customized security protocols to reduce the likelihood of theft through social engineering, phishing or brute force hacks, and offer full insurance in the unlikely event that these systems are compromised.

Bitcoin’s ability to scale hinges on consumer confidence and the development of services that allow people and institutions to easily and securely store and transact in bitcoin, and that’s where our product, partnerships and team will continue to be focused. We look forward to continuing to serve our growing global customer base from our new global home in Switzerland.

Wences Casares

By Xapo Founder and CEO

@wences

Article published on May 14, 2015

MORE NEWS

Bitcoin needs both unregulated and regulated network nodes

At Xapo, we believe that Bitcoin’s permissionlessness, censor-resistance and unseizability are its most important features, without which Bitcoin would not be of much value. The only way to ensure that Bitcoin can remain permissionless, censor-resistant and unseizable is by making sure that anyone can get some bitcoin, store it, and send it without any intermediaries…

By Wences Casares

Beware of extraordinary claims

For those of us who love Bitcoin, and especially for me as the Head of Growth at Xapo, it is always great news when we see more and more people adopting Bitcoin every day with almost magical organic growth that helps the bitcoin price rally. So I should be happy every time I see that, right?…

By Tiburcio de la Carcova

Xapo regulatory status in Switzerland

Three years ago, Xapo set out to determine the optimal jurisdiction from which to serve non-U.S. customers.  Our research ultimately identified Switzerland as the ideal jurisdiction, as explained in a May 2015 blog post. We are happy to announce that, after almost two years of substantial effort and investment, Xapo has received conditional approval from…

By Wences Casares