An official report released by Ziglu on June 15, 2020 confirms the launch of crypto marketplace and exchange, Ziglu after a $6.6 million seed round funding from friends and other angel investors. According to CEO of Ziglu, Mark Hipperson, the exchange is aiming to bring to its customers the best, cheapest and fastest ways to purchase multiple cryptocurrencies from one place.

Over the past few years, cryptocurrency has taken a hold growing to a massive ~$200 billion market capitalization in a decade. The growth of the market enticed more banks to take up the role of providing a gateway for crypto purchases and withdrawals. Hipperson however believes the market has changed a lot since the early days and hence has a strategy to do things different.

As the competition to offer avenues to purchase crypto heats up, Hipperson believes the current buyers of crypto are looking for a safe and easy way to get their crypto. Speaking on the launch of Ziglu, Hipperson said,

“This launch marks the beginning of an exciting journey for Ziglu to deliver transformational financial services for our customers. By offering immediate and safe access to best-price crypto, customers can spend, exchange and send their money, regardless of the currency, where, when and how they want.”

Ziglu will allow users to buy and sell multiple cryptocurrencies on the platform including BTC, ETH, LTC and BCH with about “15 cryptocurrencies expected to be added this year” according to demand, Hipperson said.

The statement also confirms a possible debit card launch in the coming quarter to allow users to spend their crypto easily. Ziglu is currently available on the iOS Apple Store for mobile devices.

Hipperson also spoke on the effects of the current COVID-19 global pandemic on the launch of Ziglu. The application will partner with two exchanges (instead of the planned five) at launch with more exchanges expected at a later date.

Ziglu enters an arena full of competitors including Twitter CEO, Jack Dorsey’s Square app, which together with Grayscale Trust combine for a total of 50% of Bitcoin daily purchases from miners. The app recently rolled out new features that allows users to stack satoshis on a daily, weekly or monthly automatically.

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