{"id":7507,"date":"2018-06-18T17:49:16","date_gmt":"2018-06-18T17:49:16","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=7507"},"modified":"2018-06-18T17:49:16","modified_gmt":"2018-06-18T17:49:16","slug":"xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\/","title":{"rendered":"Xapo Receives Coveted BitLicense To Offer Bitcoin Vault Service"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-7508 alignleft\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/xapo.jpg\" alt=\"\" width=\"380\" height=\"250\" \/>Xapo, the Hong Kong-based company which offers secret underground vault services to protect the wealth of super-rich has received license to operate in New York. The license permits Xapo to conduct business related to Bitcoin and other cryptocurrencies. Xapo is one among the six companies, which have received a BitLicense from the <strong>New York\u2019s Department of Financial Services (DFS).<\/strong> Getting a BitLicense from DFS is considered to be a difficult task due to their strict terms and conditions.<\/p>\n<p>The DFS has announced that Xapo will be allowed to offer a <strong>\u201cdigital wallet and a vault service\u201d<\/strong> to the residents of New York. Xapo, which safeguards approximately ~$10 billion worth Bitcoin, has claimed to have created the most secure Bitcoin wallet and debit card.<\/p>\n<p>Xapo <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\">stores Bitcoins of<\/a> clients in private computers which are not connected to internet. The private, cryptographic keys of clients are stored in different vaults across five continents. The cold storage and use of multiple locations has made the service trustworthy.<\/p>\n<p>Customers who have Bitcoins worth millions find solace in Xapo\u2019s service as it guarantees that the private keys are protected from hackers in a fool proof manner. Xapo also ensures that the private keys are not lost under any circumstances. Losing private key may result in losing access to the most valuable cryptocurrency forever. With this facility, wealthy families can safely pass on their digital legacy to their heirs.<\/p>\n<p>Apart from Xapo, the five other companies which have obtained a BitLicense are <strong>Circle Internet Financial, bitFlyer USA, Coinbase, XRP II and Genesis Global Trading<\/strong>. DFS issues BitLicense after having a detailed look at a company\u2019s financials, security practices, and policies. The rigorous process has forced several companies out of New York. With certain limitations, exchanges such as Gemini and Paxos are allowed to operate under the supervision of DFS, but without a BitLicense.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Xapo, the Hong Kong-based company which offers secret underground vault services to protect the wealth of super-rich has received license to operate in New York. The license permits Xapo to conduct business related to Bitcoin and other cryptocurrencies. Xapo is one among the six companies, which have received a BitLicense from the New York\u2019s Department [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,68,1],"tags":[],"class_list":["post-7507","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-cryptocurrency","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Xapo Receives Coveted BitLicense To Offer Bitcoin Vault Service<\/title>\n<meta name=\"description\" content=\"Xapo has received license to operate in New York. The license permits Xapo to conduct business related to Bitcoin and other cryptocurrencies. Xapo is one among the six companies, which have received a BitLicense from the New York\u2019s Department of Financial Services (DFS).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Xapo Receives Coveted BitLicense To Offer Bitcoin Vault Service\" \/>\n<meta property=\"og:description\" content=\"Xapo has received license to operate in New York. The license permits Xapo to conduct business related to Bitcoin and other cryptocurrencies. Xapo is one among the six companies, which have received a BitLicense from the New York\u2019s Department of Financial Services (DFS).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-18T17:49:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/xapo.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"Xapo Receives Coveted BitLicense To Offer Bitcoin Vault Service\",\"datePublished\":\"2018-06-18T17:49:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\\\/\"},\"wordCount\":318,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/xapo.jpg\",\"articleSection\":[\"Bitcoin\",\"Cryptocurrency\",\"USA\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\\\/\",\"name\":\"Xapo Receives Coveted BitLicense To Offer Bitcoin Vault Service\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/xapo-receives-coveted-bitlicense-to-offer-bitcoin-vault-service\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/xapo.jpg\",\"datePublished\":\"2018-06-18T17:49:16+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"Xapo has received license to operate in New York. 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