Oddbean new post about login | logout Xapo is a Bitcoin bank. It was founded by Wences Casares an early Bitcoiner. https://en.wikipedia.org/wiki/Wences_Casares I'm not specifically trying to answer your questions, I'm just sharing what I know. Bu UMA is potentially a protocol (Lightning + KYC + USD), that allows banks to benefit from Bitcoin as a money transmission system, similar to @strike approach.