UK-based service TransferGo has reportedly become the world’s first[1] remittance operator to offer crypto trading, Bloomberg reported[2] July 27.
TransferGo now lets customers buy and sell five major cryptocurrencies –– Bitcoin[3] (BTC), Ethereum[4] (ETH), Ripple[5] (XRP), Bitcoin Cash[6] (BCH), and Litecoin[7] (LTC).
According to TransferGo CEO and founder Daumantas Dvilinskas, the crypto trading option was launched “in response to demand from our user base”:
“With over 4,000 users signing up in the first few hours we can see there is a strong demand in the market for a simple and reliable investment and trading solution.”
Founded in 2012, TransferGo[8] currently has “over 600,000” registered users and is partnered with thirty banks.
A remittance is the transfer of money from a foreign worker to another individual across international borders. In 2017, global remittance flows to developing countries reached[9] a massive $466 billion.
Earlier this week, the CEO of payment giant Mastercard[10] Ajaypal Banga smashed decentralized cryptocurrencies –– as opposed to state-issued calling them “junk.” Banga accused cryptocurrencies of “wild” volatility, claiming they do not “deserve” to be considered a medium of exchange.
Previously in June, Qiwi Blockchain Teсhnologies (QBT), a subsidiary of major Russian fiat payment service provider Qiwi[11], reportedly launched[12] a crypto investment bank built on a “classic investment banking model.” According to the firm’s CFO, the upcoming HASH platform will start offering crypto trading services in 2019, after the company obtains necessary licensing.
References
- ^ world’s first (www.finextra.com)
- ^
