Xapo Bank

cefi_xapo · cefi_desk · operated by Xapo Bank

8 of 8 criteria researched.

Price

What does credit cost here, and how is the price formed?

Rate formation	posted_card source Published rate card at the desk's own site (cefi_credit_rates.source_url), re-fetched daily and last confirmed 2026-07-30. posted_card per v1 §8.2: the rate is an OFFER, not a transacted price — no desk publishes a loan book, which is why these venues' quantity and composition axes are declared unobtainable rather than missing.
Term structure	fixed_term source Xapo rate card — four fixed terms offered (30, 90, 180, 365 days), re-confirmed against the live loan calculator 2026-07-21. Note the desk prices ONE rate across all four, so the term list is not a term structure.
Rate certainty	variable source Xapo rate card — a single posted rate that tracks the base rate and accrues daily (rate_type = variable_fed_linked). Fixed TERM but variable RATE, which is why these two columns are separate.

Quality

What stands behind a position, and what can change under the reader?

Oracle dependency	undisclosed source Xapo rate card (https://www.xapobank.com/en/banking/borrow). Top-up at 65% LTV and liquidation at 80% are published; the price source is not.
Default & liquidation	threshold source Xapo rate card — LTV-triggered: origination LTV 20–40%, top-up at 65%, liquidation at 80%.
Custody & backing	third_party_custodial source Xapo rate card — regulated bank custody, no rehypothecation (custody_model = custodial_no_rehypo / custodial_regulated_bank on the savings side).
Recourse	undisclosed source Not published on the rate card.

Composition

Who and what makes up this market?

Collateral accepted	BTC (desk-held, representation not disclosed) source cefi_credit_rates.collateral_class = btc for every borrow product on this desk. Desks take native BTC into custody rather than a wrapped on-chain representation, so there is no token address to cite — which is also why none of this collateral is independently observable.
Observability	price: partial — Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date. quantity: partial — Statutory filings — Gibraltar bank annual accounts, the book read as loans and advances to customers; the strongest provenance class available in this layer, an audited account of a regulated entity (§12 Q5 closure, D26). Staleness declared at the source's native annual cadence, not the 45-day card rule. The 2025 Digital Wealth Report is an issuer report and carries term distribution and regional mix but no absolute book figure; it is not merged with the accounts. composition: partial — Aggregate statistics only (D26). Loan-level composition is unobtainable everywhere in this class and remains declared so (§8.1).

Collateral accepted

BTC (desk-held, representation not disclosed)

source

cefi_credit_rates.collateral_class = btc for every borrow product on this desk. Desks take native BTC into custody rather than a wrapped on-chain representation, so there is no token address to cite — which is also why none of this collateral is independently observable.

Observability

price: partial — Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date.

quantity: partial — Statutory filings — Gibraltar bank annual accounts, the book read as loans and advances to customers; the strongest provenance class available in this layer, an audited account of a regulated entity (§12 Q5 closure, D26). Staleness declared at the source's native annual cadence, not the 45-day card rule. The 2025 Digital Wealth Report is an issuer report and carries term distribution and regional mix but no absolute book figure; it is not merged with the accounts.

composition: partial — Aggregate statistics only (D26). Loan-level composition is unobtainable everywhere in this class and remains declared so (§8.1).

There is no score on this page and none will be added. The criteria are published and versioned before any venue is measured against them, and this venue's row is produced by the same pipeline as every other.