Ziglu
Key Data
- Trading Name: Ziglu
- Legal Entity: Ziglu Limited
- Activities: Electronic Money Institute
- Location: United Kingdom
- Regulations: regulated by FCA
- People: Mark Hipperson/Niall McConnell
Ziglu is a UK-based digital currency exchange that offers a platform for buying and selling various cryptocurrencies. Founded by Mark Hipperson, a co-founder of Starling Bank, Ziglu aims to bridge the gap between traditional banking and digital currencies.
- The platform says it will list other digital assets based on customer demand.
- Cryptocurrencies held on Ziglu are insured up to £50,000 (around $66,000).
Offering
The platform provides a straightforward user interface for users to engage in cryptocurrency transactions and offers features such as price alerts and automatic exchanges to capitalize on market fluctuations.
Ziglu offers several services centered around cryptocurrency trading and management.
Primary offerings from Ziglu:
- Cryptocurrency Trading
- Sterling Boost (This is an interest-bearing account for users to earn interest on their British Pound Sterling deposits, enhancing the value of holding fiat currency within the platform)
- Instant Currency Exchange
- Debit Card
- Price Alerts (Users can set up alerts to monitor cryptocurrency prices, enabling them to make timely decisions based on market conditions)
- Security and Insurance (Security is a major focus for Ziglu, with robust measures in place to protect user assets. Additionally, cryptocurrencies held in Ziglu are insured against certain types of security breaches, providing an extra layer of safety)
- Peer-to-Peer Payments for supported cryptocurrencies as well as pound sterling.
Ziglu currently supports bitcoin, ether, litecoin and bitcoin cash, with XRP due to be added later this month.
Regulation
Ziglu is also recognized for its focus on security and compliance, holding an Electronic Money Institution (EMI) license from the Financial Conduct Authority (FCA) in the UK (Firm Reference No. 900977). This regulatory approval underscores its commitment to adhering to stringent financial standards and providing a secure environment for its users.
While an EMI license authorizes Ziglu to perform some of the functions associated with traditional banks, it isn’t the same as a full banking license and doesn’t give the platform the ability to issue loans or to offer interest on balances.
Customer Reviews
Google: 3,2 Stars with 60+ Reviews
Trustpilot: 3,8 Stars with 640+ Reviews
People
Mark Hipperson, the founder of Ziglu, is notable for co-founding Starling Bank, a leading digital bank in the UK. He served as the Chief Technology Officer at Starling Bank before launching Ziglu to integrate traditional banking with cryptocurrency services. His background includes extensive experience in both traditional and fintech sectors, significantly shaping his approach to making digital currencies accessible and user-friendly through Ziglu.
Conclusion and Rating
Given Ziglu’s adherence to regulatory standards, robust security measures, and positive customer feedback, it would be appropriate to assign a Green Rating to represent its risk level. This designation reflects Ziglu’s status as a low-risk choice for users interested in cryptocurrency transactions and management. The company’s compliance with legal regulations and its comprehensive service offerings further reinforce its reliability and safety for consumers.
