International Finance

Ex-Barclays tech chief to launch UK crypto-friendly digital bank

Ziglu digital bank
Ziglu digital bank will offer fiat as well as crypto accounts

The erstwhile Barclays head of technology Mark Hipperson is launching a digital bank called Ziglu that will provide crypto as well as fiat accounts, as reported by Cointelegraph.

Besides being previously employed at Barclays, Mark Hipperson was also the Chief Technology Officer at Starling, a competitor UK digital bank.

Along with various currencies and free accounts, customers at Ziglu will also have the option to purchase foreign currencies at interbank rates and exchange them.

Cryptocurrencies too would be available and customers would be able to transact with any currency through a Mastercard debit card.

Ziglu, which has Hipperson as the CEO since September 2018, has sought approval from UK’s Financial Control Authority (FCA) to operate.

Other firms such as Bitwala are providing similar options of an account with the facilities of both a bitcoin wallet and an Ethereum feature.

It is here that Ziglu stands out as it can provide customers with multiple options of fiat currencies with crypto and a card that can be spent any time.

Although currently the pre-launch applications are accepted only from UK residents, whose minimum age has to be 18 years and the bank plans to make its presence felt in other countries too in the near future.

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