Xapo’s security centre, which is known as a storage vault, is already located in Switzerland, the company said in a blog entry. It explained that in the interests of its customers, now was the right time to move its headquarters from Palo Alto closer to its security infrastructure. Xapo will retain a small presence in California to serve its American customers.
Among the advantages of the new location are Switzerland’s regulatory stability, international neutrality and tradition in global finance, according to Xapo.
Xapo added that its bitcoin storage solutions were particularly secure thanks to their geographical locations, which are dispersed and heavily guarded. In addition, Xapo uses highly customised technology to protect the digital currency from theft. Xapo hopes these opportunities will enable it to continue expanding its global customer base from its new headquarters.