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

<p>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.</p><p><br /></p><p>In this episode, Jordan sits down with Piotr to explore:</p><p><br /></p><ul><li>How Piotr Bedkowski went from ING Bank sceptic to fully orange-pilled Bitcoiner</li><li>Why Xapo Bank only holds USD and BTC — and why that's a deliberate choice</li><li>The case for borrowing against Bitcoin instead of selling it</li><li>How Xapo's underground vaults earned the nickname "Fort Knox of Bitcoin"</li><li>Why rehypothecation of collateral is off the table at Xapo — full stop</li><li>Earning yield and monthly Bitcoin income from your existing stack</li><li>What the "iPhone moment" for global Bitcoin adoption might actually look like</li><li>Why Bitcoin-backed lending rates should, in theory, be the lowest in the world</li><p><br /></p></ul><p>TIMESTAMPS:</p><p>00:00 Intro — Bitcoin is currency for the people</p><p>01:00 Welcome and Piotr's background</p><p>02:00 Joining Xapo Bank and building wealth products</p><p>04:00 Bitcoin-backed lending and yield on Bitcoin</p><p>06:00 Discovering Bitcoin twice — and why most people do</p><p>09:00 Looking for the next Bitcoin (and why that's a mistake)</p><p>10:00 Currency debasement — Argentina, Europe, and everywhere else</p><p>13:00 The history of money and why fiat always fails</p><p>17:00 What Xapo Bank is actually building and why</p><p>19:00 Self-custody vs. custodial — meeting people where they are</p><p>22:00 Inside Xapo's vaults — the Fort Knox of Bitcoin</p><p>27:00 MPC security and why transactions are now near-instant</p><p>32:00 How Xapo decides what products to build next</p><p>38:00 Bitcoin-backed cards and what's coming</p><p>42:00 Zero rehypothecation — and why it matters</p><p>44:00 The iPhone moment and Bitcoin's next ten years</p><p>48:00 Why Bitcoin-backed lending rates should be the lowest</p><p><br /></p><p>🇬🇧 Join the UK Bitcoin Business Network here: https://bitcoincollective.co/bbn/</p><p><br /></p><p>CONTACT JORDAN:</p><p>X: https://x.com/JayW132</p><p>LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/</p><p>Email: hello@bitcoincollective.co</p><p><br /></p><p>CONTACT PIOTR:</p><p>💬 X: http://x.com/piotrbed</p><p>💼 LinkedIn: https://www.linkedin.com/in/piotrbedk/<