Fintech Company Ziglu announced Monday 7 September adding a peer-to-peer payment service for all currencies across the Ziglu app.
This service will allow the UK-based application to transfer virtual cash and banknotes between two parties.
Ziglu clarified in a statement that P2P payments are transactions that anyone can use for anything. This includes splitting a dinner bill between friends or even paying rent.
The service comes after receiving both the UK Financial Conduct Authority’s (FCA) Electronic Money Institution licence and the Fifth Money Laundering Directive (5MLD) licence last week.
“You can now fly a fiver to your friend, ping a pound to your pal, & collect some #crypto from your comrade,” Ziglu tweeted.
“Paying people should be instant, free, and easy regardless of their location or the currency, whether that is splitting the cost of your Airbnb or sending a Bitcoin birthday present.”Ziglu Founder & CEO Mark Hipperson
Furthermore, Hipperson told CoinTelegraph that cryptocurrency can be bought within the app and transferred to other users via P2P.
“Although the 5MLD licence that we hold allows us to do all of the same things that a licenced exchange can, and third-party crypto transfers are certainly on the future road-map,” he added.
What is Ziglu?
Launched in June 2020, Ziglu has a vision to offer accessible, simple, and secure access to any currency. Users can instantly and effortlessly exchange and send their fiat and digital currencies. They can also monitor their balances in real-time.
“With Ziglu, 100% of customers’ total digital assets are insured against cyber-attacks, up to the value of £50,000, and fiat currencies are safeguarded in a segregated account,” the statement noted.
Moreover, it added that the application keeps personal information personal and private with P2P payments. This provides greater security and peace of mind.
The service integrates multiple exchanges. When a customer wants to buy cryptocurrency, Ziglu will always search these for the best price, according to CoinTelegraph.