Remittance firm TransferGo launches cryptocurrency trading facility

TransferGo, a digital remittance company headquartered in London, has announced its cryptocurrency trading facility, allowing customers to purchase and sell five major cryptocurrencies.

Quartz had reported in May that TransferGo was planning to offer crypto trading to customers. The TransferGo app now allows trading of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC).

“We’ve launched this cryptocurrency trading facility in response to demand from our user base” said Daumantas Dvilinskas Founder and CEO of TransferGo “our innovation is driven by empathy for our customers and our focus is wherever there’s a point of friction for them. 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.”

The new trading facility enables customers to invest in cryptocurrencies within the familiar environment of the TransferGo user experience. It is available in the Android and iOS version of the TransferGo app. The company said that the KYC and AML policies are the same as for the remittance services.

Headquartered in London, TransferGo recently received its e-Money license from the Bank of Lithuania. It has more than 650,000 users and has completed $1bn in money flow. The company recently announced an investment round of EUR 8.6 million, which brought the total funding till date to EUR 17.8 million.