Crypto challenger Ziglu launches Bitcoin Boost account

By Megha Bhattacharya

UK-based cryptocurrency challenger Ziglu today announced the launch of Bitcoin Boost, an account for allowing its users to earn interest equivalent to an annual percentage rate of 5% on their Bitcoin. According to Ziglu, its Bitcoin Boost account calculates interest on the value of the Bitcoin holding every second and adds interest payment to the balance each week.

Mark Hipperson, Ziglu Founder and Chief Executive Officer, said, “It’s pretty much impossible to find interest rates that are higher than the rate of inflation, and yet digital currencies and decentralised finance have massive potential to provide a real rate of return for everyone. Our aim is financial inclusion and choice – through the Bitcoin Boost account we are able to offer our customers instant access to bitcoin, and a game-changing 5% rate of interest on the value of their bitcoin, no matter how large or small.”

Recently, Ziglu announced that it has made Tezos’ native digital coin tez (XTZ) available to its users. Customers can make peer-to-peer payments across all currencies, both digital and traditional, and make payments to any UK account as well as being able to spend from their GBP account with the Ziglu Mastercard debit card. With the addition of Tezos, users can access five cryptocurrencies including Bitcoin, Bitcoin Cash, Ether and Litecoin.

Last year, Ziglu launched peer-to-peer payments for all currencies across the Ziglu app. P2P payments allow the transfer of funds between two parties, enabling Ziglu customers to instantly send or receive any currency from any contact within the challenger’s community. The company recently became a full FCA authorised Electronic Money Institution.