A new crypto bank called Ziglu could be launched on the market in January 2020.
The project was actually started at the end of 2018, but only now it is near completion. The idea belongs to the co-founder and former CTO of Starling Bank, Mark Hipperson, who after leaving Starling in the summer of 2016 started working on a new company. The launch of Ziglu’s services would be scheduled for January 2020.
Ziglu presents itself as an e-money-licensed app from the UK, allowing its clients to transfer funds both in traditional currencies and in five cryptocurrencies. Moreover, thanks to the integration with some exchanges, it will be possible to convert fiat currency into cryptocurrency and vice versa, as well as spend them with MasterCard or mobile payment devices.
Hipperson already expects to process transaction volumes of at least $1 billion in 2020 and plans to extend the operations to the US in the fourth quarter of the year.
The company is based in London and aims to provide its customers with a comprehensive bank account capable of operating with both fiat and cryptocurrencies, referred to as “the global current account for the digital age”.
Unfortunately, there are no more details on the project yet, besides what is stated on the official website.
Ziglu will offer the ability to hold multiple currencies, both traditional and foreign or digital, in a single account, to buy and sell foreign currency at interbank rates or cryptocurrencies on multiple exchanges.
In addition, the crypto bank promises simple transactions and low fees.
The fact that it presents itself as an alternative to a traditional bank account, combining the use of cryptocurrencies alongside traditional fiat currencies, coupled with the founder’s ambitions to reach a large audience, makes the project one of the candidates for bringing cryptocurrencies to the general public, making them easy to use even for those who are not yet familiar with the innovative crypto products.