Xapo Bank, a crypto-friendly bank based in Gibraltar, announced the launch of a Bitcoin-based dollar loan service, with loan amounts of up to $1 million. It is reported that one major difference of Xapo's Bitcoin loan product is that the bank does not require users to re-collateralize their loan collateral, meaning its lending mechanism does not involve customers reusing their BTC assets. Eligible Xapo customers can choose repayment terms of 30, 90, 180, or 365 days, and early repayment will not incur any penalties. (Cointelegraph)

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