Xapo Bank is set to expand its Bitcoin lending product, the Xapo BTC Credit Fund, which has already secured $100 million in member subscriptions. Managed by Hilbert Group, the fund will launch in 2024, utilizing Bitcoin deposits for institutional lending. This initiative aims to provide a low-risk savings option for long-term Bitcoin holders. The expansion comes as the Bitcoin credit market shows signs of recovery, with similar products like Coinbase Borrow and Ledn gaining traction. The fund is regulated in the Cayman Islands, requiring eligible lenders to meet specific investment and due diligence criteria.