What Would a Bitcoin-Native Bank Actually Look Like? | Piotr Bedkowski #223

The pound has lost 95% of its purchasing power since 1971. Every fiat currency in history has eventually gone to zero. Bitcoin might be the first money that actually holds its value — and building the financial services around it is what Piotr, Product Manager at Xapo Bank, has spent years working on.

In this episode, Jordan sits down with Piotr to explore:

• How Piotr Bedkowski went from ING Bank sceptic to fully orange-pilled Bitcoiner
• Why Xapo Bank only holds USD and BTC — and why that's a deliberate choice
• The case for borrowing against Bitcoin instead of selling it
• How Xapo's underground vaults earned the nickname "Fort Knox of Bitcoin"
• Why rehypothecation of collateral is off the table at Xapo — full stop
• Earning yield and monthly Bitcoin income from your existing stack
• What the "iPhone moment" for global Bitcoin adoption might actually look like
• Why Bitcoin-backed lending rates should, in theory, be the lowest in the world

TIMESTAMPS:

00:00 Intro — Bitcoin is currency for the people

01:00 Welcome and Piotr's background

02:00 Joining Xapo Bank and building wealth products

04:00 Bitcoin-backed lending and yield on Bitcoin

06:00 Discovering Bitcoin twice — and why most people do

09:00 Looking for the next Bitcoin (and why that's a mistake)

10:00 Currency debasement — Argentina, Europe, and everywhere else

13:00 The history of money and why fiat always fails

17:00 What Xapo Bank is actually building and why

19:00 Self-custody vs. custodial — meeting people where they are

22:00 Inside Xapo's vaults — the Fort Knox of Bitcoin

27:00 MPC security and why transactions are now near-instant

32:00 How Xapo decides what products to build next

38:00 Bitcoin-backed cards and what's coming

42:00 Zero rehypothecation — and why it matters

44:00 The iPhone moment and Bitcoin's next ten years

48:00 Why Bitcoin-backed lending rates should be the lowest

🇬🇧 Join the UK Bitcoin Business Network here: https://bitcoincollective.co/bbn/

CONTACT JORDAN:

X: https://x.com/JayW132

LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/

Email: [email protected]

CONTACT PIOTR:

💬 X: http://x.com/piotrbed

💼 LinkedIn: https://www.linkedin.com/in/piotrbedk/

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All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.

Borrow Against Bitcoin Without Selling a Single Sat — Xapo Bank's Product Manager Explains How

Why Every Fiat Currency Eventually Goes to Zero — and What Comes Next

Bitcoin-Backed Loans, Yield, and the Future of Money With Xapo Bank

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EDITED BY JAMES PEARCE

LinkedIn: https://www.linkedin.com/in/james-pearcesf/

Available now on YouTube and all major podcast platforms.

This episode is for educational purposes only and does not constitute financial advice. Always do your own research.