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Ziglu Mobile Banking App Makes Cryptocurrency Easy for Everyone

Nicholas Otieno   Jun 16, 2020 11:15 2 Min Read

Following a £5.25 million (US$6.6 million) seed funding, Ziglu, which aims to be first regulated UK-based crypto bank, has launched its cryptocurrency platform that to painlessly allow consumers to get their hands on some cryptocurrency. Customers can now download the crypto buying app from the Apple Store after months of successful beta testing. An android version of the app is due to follow soon.

Users Get More Out of Blockchain With Ziglu Platform

According to the official release, the Ziglu app will let consumers hold both cryptocurrency (Bitcoin, Ether, Bitcoin Cash, and Litecoin) and fiat in an e-wallet, connecting with cryptocurrency exchanges for in-app money transfers and enabling spending using a Mastercard debit card.

Ziglu allows users to exchange GBP (Sterling pound) for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The crypto bank aims to add more fiat currencies and a debit card in July or August.

UK’s First Regulated Crypto Bank To be Launched by Former Barclays Tech Head

Zuglu was founded by Mark Hipperson, the former co-founder and CTO of Starling bank and the former head of technology for the Barclays group. Hipperson has successfully developed the crypto bank business based on the premise that consumers deserve a fair, accessible, and smart way to access fiat and cryptocurrencies. At a time when consumers are seeking greater financial control, accessibility, and inclusion, Ziglu’s vision is to open up access to cryptos for all. The crypto bank applied to the UK’s financial regulator, FCA (financial conduct authority), to become a regulated issuer of electronic money.

On the release of the new crypto-banking app, Hipperson said, “This launch marks the beginning of an exciting journey for Ziglu to deliver transformational financial services for our customers. By offering immediate and safe access to best-price crypto, customers can spend, exchange, and send their money, regardless of the currency, where, when, and how they want.”

Ziglu has raised $5.2 million in seed round financing to get the business off the ground, developing its own scalable and flexible ‘bank-grade’ platform in the cloud. The crypto bank provides fully and fair transparent pricing with user funds held in a segregated account. The company has plans to process up to $1 billion in transactions in its first year and to expand from the United Kingdom to the United States by the third quarter.

 


Image source: Shutterstock

About the author

Nicholas Otieno   
Nicholas Otieno is a content writer with a focus on Fintech. He is passionate about helping people to accomplish their needs.

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