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  nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 approach.