Just-Launched Ziglu Wants to Make It Stupid Easy to Buy Crypto

U.K.-based cryptocurrency platform Ziglu has launched, following a $6.6 million seed round.

AccessTimeIconJun 15, 2020 at 7:00 a.m. UTC
Updated May 9, 2023 at 3:09 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

U.K.-based cryptocurrency platform Ziglu has launched, following a £5.25 million (US$6.6 million) seed round. As a starting point, the platform aims to painlessly put crypto in the hands of consumers.

Announced Monday, Ziglu allows users to exchange GBP for bitcoin (BTC), ether (ETH), litecoin (LTC) and bitcoin cash (BCH), with more fiat currencies to be added and a debit card coming in July or August.

  • How NEAR Enables Multichain Access From One Account
    00:56
    How NEAR Enables Multichain Access From One Account
  • Why the NEAR foundation Chose Eigenlayer as a Security Partner
    00:54
    Why the NEAR foundation Chose Eigenlayer as a Security Partner
  • Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
    07:08
    Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
  • How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
    01:11
    How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
  • Ziglu is the brainchild of Mark Hipperson, former CTO of U.K.-based Starling Bank, one of a crop of so-called “challenger banks” that took on the incumbents with sleeker, more intuitive and transparent services.

    Things have changed since 2015 when all the challengers entered the market, though, said Hipperson. 

    “In 2020, we think the 25-45 [age] demographic will want easy, safe access to crypto,” he said. “Only about 1% of people go to the large platforms to buy crypto and we think we can do better, and perhaps get them better prices as well.”

    The marketplace for apps that offer crypto is heating up. For instance, Square, the fintech unicorn launched by Twitter CEO Jack Dorsey, rolled out bitcoin purchases in mid-2018 and recently reported bitcoin revenues of $306 million on its Cash App service.

    In Europe, London-based Revolut, which recently raised $500 million, valuing the platform at $5.5 billion, allows users to buy cryptocurrencies sourced from the Luxembourg-based BitStamp exchange.  

    Ziglu’s original plan was to launch with five major exchanges, but for now it’s connecting to two, both of which Hipperson declined to name. The startup has had to adapt its go-to-market plans in light of COVID-19, he said. More exchanges will be added in the coming weeks, he added.

    Part of Ziglu’s secret sauce involves routing requests to find consumers the best deal. For example, if the best price for bitcoin happens to be in dollars on Kraken, the service converts fiat and sources the deal on that exchange.

    The forthcoming debit card has Mastercard as a scheme partner and Global Processing Services is Ziglu's payment processor. The seed round was sourced from high-net-worth individuals and friends, but no VCs, Hipperson said.

    In terms of fiat, Ziglu plans to add currencies based upon customer demand. 

    “I’d expect we would be at 15 currencies” by the end of the year, said Hipperson.

    EDIT (Feb. 8, 2021): Removed reference to Mark Hipperson being a co-founder of Starling Bank.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.