Category Archives: Crypto Finance

Auto Added by WPeMatico

Former Barclays Exec to Launch UK’s First Regulated Crypto Bank

Ziglu

  • Former executive of Barclays and Starling Bank, Mark Hipperson, plans to launch a regulated crypto bank in 2020
  • Dubbed Ziglu, the project will let users maintain multiple currencies and perform instant conversion of crypto at point of sale

Co-founder and former CTO at Starling Bank, and former deputy CTO and Head of Technology for the Barclays Group, Mark Hipperson plans to launch a crypto digital bank in the first quarter of 2020. The project, dubbed Ziglu, will give the customers the ability to hold and transfer funds between fiat and crypto.

As reported, users can buy and sell foreign currencies at interbank rates. They can also buy and sell cryptocurrencies at the best costs from different exchanges.

Ziglu’s website states:

“No more complex transactions, and no more rip-off rates or fees. [..] 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 also offers the users the benefit of a Mastercard debit card to spend the different currencies. When it comes to crypto, the debit card will convert the currency instantly at the time of the transaction.

Hipperson has been leading the project since September 2018. The company has also applied to the Financial Conduct Authority (FCA) for issuing electronic money. The bank will currently operate only in the UK, and will be available for users who are at least 18.

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Former Barclays Exec to Launch UK’s First Regulated Crypto Bank appeared first on BitcoinNews.com.

Eleven Credit Suisse Staff Take Crypto Positions Elsewhere

Zurich’s branch of Credit Suisse has seen an exodus of staff, as they switch from banking to cryptocurrency over the past year.

The last to leave, Andrew Reel, has left the Swiss bank to become head of digital asset markets at Morgan Stanley also based in Zurich. But he’s just the tip of the iceberg when it comes to crypto defectors, with insider reports from the Swiss banking giant stating that 11 others have also departed on the digital career trail.

Three others have left CS bound for various positions at Crypto Finance, a Swiss company that aims to implement blockchain technology, and one to become head of trading. Two others have left the bank and set up Vision&, a self-described “Swiss-based, SRO-regulated asset manager facilitating access to innovative blockchain investment opportunities.” Since then, these two have reportedly launched the first actively managed blockchain investment product in Switzerland.

A crypto exchange in Zug, Switzerland’s Crypto Valley, called Lykke, has been the beneficiary of another Credit Suisse defector, which later saw the arrival of two further CS refugees. Two other companies have also snapped up leavers such as blockchain company Digital Asset and Schneider Digital Asset.

Apparently, all professionals in the Zurich banking market are well known to each other and it appears that they’ve all ended up at Credit Suisse at some time or another. One of the leavers commented:

“We all worked together on the trading floor…The community in Switzerland (and globally) was very compact a couple years ago. Our small blockchain cell of people entered the space rather early and shared knowledge.”

Reportedly its that fact the cryptocurrency and blockchain lend themselves to a better way of expressing the entrepreneurial spirit than banking. He added, “We found different ways to enter the crypto business but still keep close and exchange thoughts.”

Switzerland’s stock exchange, SIX, announced recently that it will open its doors to digital currencies. The new platform which is being built by SIX will offer integrated post-transaction services such as deal settlement and asset custody through DLT. SIX and regulated by Finma. The Swiss Central Bank, says that it plans to roll out its cryptocurrency service in the first half of 2019.

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post Eleven Credit Suisse Staff Take Crypto Positions Elsewhere appeared first on BitcoinNews.com.