UK-based service TransferGo has reportedly become the world’s first remittance operator to offer crypto trading, Bloomberg reported July twenty seven.
TransferGo currently lets customers buy and sell 5 major cryptocurrencies –– Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin cash (BCH), and Litecoin (LTC).
According to TransferGo chief executive officer and founder Daumantas Dvilinskas, the crypto trading choice 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 presently has “over 600,000” registered users and is partnered with thirty banks.
A remittance is that the transfer of cash from a foreign employee to a different individual across international borders. In 2017, international remittance flows to developing countries reached an enormous $466 billion.
Earlier in the week, the chief executive officer of payment giant Mastercard 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 thought of a medium of exchange.
Previously in June, Qiwi Blockchain TeŃhnologies (QBT), a subsidiary of major Russian fiat payment service supplier Qiwi, reportedly launched a crypto investment bank designed on a “classic investment banking model.” according to the firm’s chief financial officer, the forthcoming HASH platform will begin offering crypto trading services in 2019, after the company obtains necessary licensing.
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