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 BitcoinerWhy Xapo Bank only holds USD and BTC — and why that's a deliberate choiceThe case for borrowing against Bitcoin instead of selling itHow Xapo's underground vaults earned the nickname "Fort Knox of Bitcoin"Why rehypothecation of collateral is off the table at Xapo — full stopEarning yield and monthly Bitcoin income from your existing stackWhat the "iPhone moment" for global Bitcoin adoption might actually look likeWhy Bitcoin-backed lending rates should, in theory, be the lowest in the worldTIMESTAMPS:00:00 Intro — Bitcoin is currency for the people01:00 Welcome and Piotr's background02:00 Joining Xapo Bank and building wealth products04:00 Bitcoin-backed lending and yield on Bitcoin06:00 Discovering Bitcoin twice — and why most people do09:00 Looking for the next Bitcoin (and why that's a mistake)10:00 Currency debasement — Argentina, Europe, and everywhere else13:00 The history of money and why fiat always fails17:00 What Xapo Bank is actually building and why19:00 Self-custody vs. custodial — meeting people where they are22:00 Inside Xapo's vaults — the Fort Knox of Bitcoin27:00 MPC security and why transactions are now near-instant32:00 How Xapo decides what products to build next38:00 Bitcoin-backed cards and what's coming42:00 Zero rehypothecation — and why it matters44:00 The iPhone moment and Bitcoin's next ten years48:00 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/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected] PIOTR:💬 X: http://x.com/piotrbed💼 LinkedIn: https://www.linkedin.com/in/piotrbedk/READ OUR NEWSLETTER:https://newsletter.bitcoincollective.co/LISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All 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 HowWhy Every Fiat Currency Eventually Goes to Zero — and What Comes NextBitcoin-Backed Loans, Yield, and the Future of Money With Xapo Bank⸻EDITED BY JAMES PEARCELinkedIn: 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.