Ziglu has received its Financial Conduct Authority licence and is now offering peer-to-peer (P2P) payments for crypto and fiat currencies.
Launched in June by Mark Hipperson, co-founder and former chief technology officer of Starling Bank, has now been granted authorisation to operate as an Electronic Money Institution (EMI).
The full launch of the P2P service comes after the company completed a seed funding round of £5.25 million, with the aim of providing transparent and simple access to cryptocurrency.
Ziglu’s EMI licence lets customers send or receive any currency, including a range of cryptocurrencies, from any contact within the Ziglu community. Users can exchange and send digital currencies and monitor their balances in real-time.
The company will insure 100 per ceny of customers’ total digital assets against cyber attacks, up to the value of £50,000 – and fiat currencies are safeguarded in a segregated account.
Hipperson said: “Paying people should be instant, free and easy regardless of their location or the currency, whether that is splitting the cost of your AirBnB or sending a Bitcoin birthday present.”