A new bank with a focus on digital assets is expected to launch soon. The bank is called Ziglu and is the brainchild of Mark Hipperson, the former chief technology officer (CTO) and co-founder of Starling Bank.
Ziglu will be a fully digital bank that will also hold several digital assets, along with fiat. Account-holders will be able to keep both in one account. According to the Ziglu website, the bank offers solutions to common existing problems. It is expected to launch this year.
“We’ve built an account that breaks all the currency barriers – geographic and technological – and puts you fully in control of your money whatever you want to do with it.”
Ziglu will allow its users to exchange multiple currencies easily. Also, all currencies will be easily spendable worldwide, using a debit card from Mastercard. Ziglu will make all the necessary conversions, at the point of use.
Hipperson, who was also a Barclays exec, has been putting in work on Ziglu since he left Starling in 2016. According to Hipperson’s LinkedIn Page, Ziglu was founded in September 2018. The founder has also been CEO since then.
Already, Ziglu has applied to the U.K’S Financial Conduct Authority (FCA) for a license to become an electronic money issuer. The platform plans to begin only in the U.K. but hopes to spread to other jurisdictions a little later.
The U.K. has also intensified its fight against tax evasion and has asked crypto exchanges for relevant information.
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