One of the most popular remittance services in the UK, TransferGo, recently added a feature that made it the first remittance operator to offer crypto trading. Initially reported by Bloomberg on July 27th, the news has been positively received by many customers who can now buy and sell major cryptocurrencies.
Speaking of, the list of cryptocurrencies includes five of the most popular ones – such as Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin.
The CEO and founder of TransferGo, Daumantas Dvilinskas said that the crypto trading option was launched as a “direct response to demand from the user base”. As he said:
“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, the remittance operator TransferGo has “more than 600,000 registered users and is partnered with 30 banks.” The main function of it as a remittance operator is to transfer money from a foreign worker to another individual across international borders. In 2018, the global remittance flow reached a massive $466 billion.
Earlier in 2018, a subsidiary of the major Russian fiat payment provider named Qiwi – Qiwi Blockchain Technologies (QBT) – has also launched a crypto investment bank that is built on a “classic investment banking model.”
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