Ziglu, a cryptocurrency platform based in the UK, has successfully secured £5 million, now valuing the company at £45 million—quite a shift from its previous valuation of $170 million.
Regulated by the FCA, Ziglu allows users in the UK to trade eleven different cryptocurrencies. Its offerings include a debit card option, earning yields through its ‘Boost’ products, and making transfers or payments seamlessly.
Founded by Mark Hipperson, who was formerly a co-founder at Starling Bank, Ziglu was previously in discussions to be acquired by Robinhood for $170 million in 2022. However, as market valuations dropped, Robinhood revised its offer to only $60 million, prompting the deal to fall through.
Despite this setback, the cryptocurrency landscape has recently displayed renewed vigor, which is catalyzing interest in integrating crypto into mainstream financial services.
In light of this momentum, Ziglu has announced plans to acquire the retail division of Damex, a firm based in Gibraltar, which is set to enhance Ziglu’s intention to broaden its banking, cryptocurrency, and investment services globally.
Among the upcoming initiatives is the launch of Ziglu Coin, a rewards-driven digital currency supported by a recently established $10 million commitment. Anticipated for release in the second quarter of 2025, Ziglu Coin will be accessible on the Ziglu platform and other significant exchanges. Users will have the opportunity to earn Ziglu Coin within the Ziglu ecosystem, providing them with rewards and benefits through an advanced subscription model.
Hipperson indicated that a comprehensive prospectus detailing Ziglu Coin’s framework will be available soon. He states, “Our Ziglu Coin represents a pivotal advancement in enhancing utility, accessibility, community interaction, and rewards for our users. We’re creating an environment where digital assets coexist with traditional finance, providing tangible value and control over one’s financial resources.”
He further noted that the recent £5 million fundraising will facilitate the rapid advancement of new products, enlargement into European markets, and the development of a broader array of investment options, including stocks, commodities, and cash savings solutions.