Ziglu, the UK-based cryptocurrency banking platform, has announced the launch of its peer-to-peer (P2P) payments service for both fiat and cryptocurrency.
It has been reported that Ziglu offers simple and secure access to any currency, as the platform is undergoing continuous development and many more features are scheduled for the future.
Mark Hipperson, the founder and CEO and Ziglu, spoke about becoming fully licensed, P2P payments and future plans.
He described the licensing process as tough and time-consuming, but essential in establishing a respected position within the space.
However, the 5MLD regulators, in particular, required a lot of convincing but were made more comfortable by the fact that Ziglu doesn’t currently allow transfers of cryptocurrency into and out of the ecosystem, thus avoiding the issue of not knowing where it has come from.
Ziglu adds peer-to-peer cryptocurrency payments to mobile app https://t.co/cCAwf5GQkF #fintech — Finextra (@Finextra) September 7, 2020
It has been analyzed that cryptocurrency can be bought within the app and transferred P2P with other users. Hipperson explained that this was to keep things simple.
He added:
“Although the 5MLD licence that we hold allows us to do all of the same things that a licenced exchange can, and third-party crypto transfers are certainly on the future road-map.”
Currently, Ziglu supports Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), and Ether (ETH), with XRP (XRP) being added in September, and then around one coin per fortnight after that as requested by customers.
The platform integrates multiple exchanges and when a customer wants to buy cryptocurrency will always search these for the best price.
As per the report, when Ziglu was first announced back in January, multi fiat currency support and a debit card which converted crypto to fiat (again at best market rates) at point of sale were promised.
Debit cards have already undergone testing and are scheduled for launch later in September.
Multi-currency support for users is coming in October, although currency conversion when buying crypto is already in place.
Thus, Ziglu stated:
“We are one of the only companies in the world which offers a £50,000 insurance policy on crypto held with us which is quite unique.”
Source: Cointelegraph | Image: Crypto Economy