Revolutionizing Payments with Ziglu
On September 7, the fintech platform Ziglu stepped into the payments arena with its latest offering: peer-to-peer (P2P) payments for both fiat and cryptocurrency. Talk about making it rain—be it pounds or digital coin!
Regulatory Triumph: Ziglu’s Licensing Adventure
The timing couldn’t be better, following Ziglu’s recent acquisition of the U.K. Financial Conduct Authority’s (FCA) Electronic Money Institution license and the coveted Fifth Money Laundering Directive (5MLD) license. Let’s just say, navigating this licencing maze is less of a walk in the park and more like an obstacle course designed by an over-caffeinated architect.
CEO Mark Hipperson shared that getting these licenses was no picnic. The 5MLD, in particular, didn’t make it easy but ultimately put faith in Ziglu’s approach of not allowing external crypto transfers, ensuring a cleaner monitoring trail. Think of it as keeping your house spotless so that the in-laws don’t ask too many questions.
P2P Payments Made Simple
So, what does this license mean for users? Well, it paves the way for Ziglu’s P2P payments, where cryptocurrency can be bought and shared among users seamlessly. It’s like passing cash but without the creepy vibe of transactions at the back of a bar. And according to Hipperson, this approach simplifies the user experience that could otherwise feel like deciphering a hieroglyph.
The Crypto Lineup
As of now, Ziglu supporters can trade Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), and Ether (ETH), with XRP making its grand entrance by the end of September. Each new coin will trickle in based on customer requests, kind of like the world’s slowest vending machine—only this one gives you Bitcoin instead of stale chips.
The Future is Multi-Currency
But wait! There’s more! Ziglu is also integrating multi-fiat currency support and a debit card that allows users to convert crypto to fiat at market rates right at the point of sale. Testing on the debit card is complete, and we can expect its launch later this month—get ready to spend your digital assets at your favorite shops with newfound ease!
Insured Crypto: A Big Deal
Here’s a cherry on top of this sundae: any crypto held with Ziglu is insured for up to a whopping £50,000. That’s right—while others might just leave your coins hanging, Ziglu is like your financial bodyguard. “We are one of the only companies to offer this level of insurance on crypto, which is quite unique,” Hipperson proudly stated. Better safe than sorry, right?
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