To enable its customers to buy and sell five digital currencies, TransferGo has rolled out a crypto trading facility. Users can trade bitcoin, bitcoin cash, Ripple, Litecoin and Ethereum through the service, according to reports.
“We’ve launched this cryptocurrency trading facility in response to demand from our user base,” said TransferGo Founder and CEO Daumantas Dvilinskas. “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 company’s iOS and Android apps allow users to access the new trading facility. And the anti-money laundering (AML) and know-your-customer (KYC) policies are reportedly the same as the company’s remittance services. The idea behind the service is to provide customers with a familiar environment to invest in cryptocurrencies. TransferGo, as it stands, reportedly has over 650,000 users and has completed money flow of $1 billion.
The news comes almost two years after TransferGo announced the addition of a real-time payment option called TransferGo NOW. The new service enabled customers to have almost instant purchasing power, with the real-time settlement taking TransferGo’s delivery time down to 30 minutes or less.
“That kind of speed is highly valued in the international money transfers sphere,” Dvilinskas has said. “We at TransferGo have already noticed the incremental increase in the use of various mobile devices, with mobile phones even overtaking desktop usage in the last year, leading to our revolutionary decision to launch close to real-time money transfers for desktop and mobile users, so we can serve our customers even better.”
TransferGo is considered a disrupter in the money transfer industry, aiming to break down the barriers that often stand between senders and recipients of money. The FinTech firm has gained a reputation for using bespoke tech innovation and hedging technology to modernize the speed of money transfers.