Crypto Trading Service Added To TransferGo’s Remittance App

Announcements, News | July 30, 2018 By:

London-based remittance firm TransferGo has launched a new crypto trading facility in response to a strong demand for crypto assets.

Launched in 2012, TransferGo is a digital remittance solution for migrant workers that uses a digital account-to-account business model, which means that money transfers do not have to leave the country as funds are paid in and out locally. TransferGo transfers money between 45 European countries and 22 currencies. In 2017, TransferGo’s success soared, achieving a run-rate of 1 million transfers per year with transfers topping £500 million ($656M USD).

The new trading facility, which is available in the Android and iOS version of the TransferGo app, enables customers to invest in cryptocurrencies within the familiar environment of the TransferGo user experience. The platform currently supports five major cryptocurrencies, inlcuding bitcoin (BTC), ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).

Daumantas Dvilinskas, TransferGo CEO and founder, said that the crypto trading facility was launched “in response to demand from our user base.”

“Our innovation is driven by empathy for our customers and our focus is wherever there’s a point of friction for them,” Dvilinskas said. “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.”

To provide information and guide their clients through the process of buying and selling cryptos, the new trading facility will offer customer service support in 7 languages that will be available on phone, email and through facebook. The know your customer (KYC) and anti money laundering (AML) policies of the platform will be the same as for the remittance services, making it as transparent and safe as possible.

“We have a very long-term perspective on crypto, and we have seen crypto go through multiple waves,” Dvilinskas said. “We want to be able to provide our customers with a very easy and consumer-friendly way to get access to cryptocurrencies. As a platform [cryptocurrencies] are here to stay.”