4 cryptocurrency FinTechs disrupting the European market

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Cryptocurrency has rapidly gained popularity and it has begun affecting the economy of some countries. The emerging world of cryptocurrencies appears to be getting back on track in 2020 after a volatile 2019. The current value of the cryptocurrency market is around $270 billion, benefiting from the chaos caused by the Covid-19 pandemic.

Check out the emerging cryptocurrency companies in the European market –

1. Luno

Headquartered in London, Luno is a global cryptocurrency co-founded by CEO Marcus Swanepoel and CTO Timothy Stranex. , Luno’s products and services aim to make it safe and easy to buy, sell, store and learn about cryptocurrencies like Bitcoin and Ethereum.

Last year, the Securities Commission (SC) of Malaysia has given London-based cryptocurrency exchange Luno its approval to operate as a recognised market operator (digital asset exchange). Luno said in a statement that it had satisfied all the required conditions under the commission. It added that it can now offer Malaysian users the opportunity to safely buy, sell and store cryptocurrency on its platform.

This month, Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, today announced the acquisition of Luno, a leading cryptocurrency exchange.

Based in London and with regional hubs in Singapore and Cape Town, Luno has grown significantly in recent years, with nearly 400 employees and more than five million global customers spanning over 40 countries.

2. Wirex

Wirex is a digital payment platform and regulated institution that developed a contactless payment card giving users the ability to seamlessly spend crypto and traditional currencies in real life.

Recently, Wirex launched its product overhaul and a new card. The overhaul follows the release of the FinTech’s new features including five new currencies and free foreign exchange. The company also announced the launch of their Wirex Mastercard card along with an updated rewards programme.

Wirex was created in 2014 by CEOs and co-founders Pavel Mateev and Dmitry Lazarichev. Wirex aims to provide a cost-effective service for crypto and traditional currency transactions by incorporating the next generation of payments infrastructure integrated with cryptocurrency blockchains.

After opening a private allocation for their crowdfunding campaign only 25 mins before in September, Wirex has reached their target of raising £1 million in less than 1 and a half hours. With over £1.6 million already raised, Wirex has been pushed into overfunding, and will remain open to give the community the opportunity to invest further as they enter the next phase of their fundraising campaign with Crowdcube.

3. Ziglu

Founded in 2018 in London, Ziglu is a new cryptocurrency venture that aims to offer exchange services at interbank rates and at the same time, facilitate the purchasing of cryptocurrencies through various exchange platforms. It 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.

Established by the co-founder and CTO of Starling Bank, Mark Hipperson, Ziglu has designed a financial platform that leverages bank-grade technology. It aims to offer fair and fully transparent pricing with user funds held in a segregated account. Through the platform, customers can exchange their money into digital currencies, including Bitcoin, Ether, Litecoin & Bitcoin Cash.

The bank is also expected to facilitate the provision of the following features, full UK current account functionality, payments in the UK, Europe and worldwide, FX at interbank rates, instant free payments to other Ziglu users,  a debit card and ‘military-grade’ security.

4. Bitcoin Suisse

Swiss crypto financial services and technology services provider, Bitcoin Suisse, offers trading, brokerage, storage, staking, collateralized lending, and crypto financial solutions.

This year, the company announced its Series A investment. 20% of shares of the holding company, BTCS Holding AG have been put up for sale at a pre-money valuation of US$283 million (CHF 275 million) to professional investors. The company stated that the funds raised will enable it to speed up the company’s growth and will boost its cross-border licensing efforts.

Payments supplier, Worldline recently entered into a partnership with Bitcoin Suisse in a bid to provide crypto payment services to Swiss merchants and consumers. The partnership is expected to combine Worldline’s payment infrastructure with Bitcoin Suisse’s expertise and experience to enhance the cryptocurrency payments market.