4 emerging cryptocurrency FinTechs in the European market
By Megha Bhattacharya
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 2021 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.
According to media reports, in April 2021, the cryptocurrency market topped $2 trillion of valuation for the first time, and Bitcoin’s at 1.15 Trillion dollars. Bitcoin registered a crucial growth in the last six months valuing up to a 450 percent rise. Bitcoin and ether have also been witnessing huge rallies this year.
Check out the emerging cryptocurrency FinTech companies in the European market –
Headquartered in London, Luno is a global cryptocurrency co-founded by CEO Marcus Swanepoel and CTO Timothy Stranex. FinTech 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.
Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, 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.
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, FInTech Wirex announced the launch of a new offer to double the amount of Cryptoback rewards after surpassing 3.5 million customers. The company’s customers in certain regions can earn up to 4% rewards back on all purchases made with their Wirex card, available exclusively throughout April.
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.
Founded in 2018 in London, FinTech 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.
Recently, Ziglu rolled out a new investment product – Sterling Boost, offering an interest rate of 5% APY. The product accepts balances of between £1 and £10,000 and offers instant, penalty-free access to funds. The company said that Sterling Boost provides a better return than cash savings accounts, and with a risk profile that is much lower than investing directly in cryptocurrencies.
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.