- International payments provider will now offer five cryptocurrencies for customers to buy and sell
- Android and iOS app users will have access to digital currency trading
- Company says more than 4,000 new users registered for accounts in first few hours following announcement
International fintech disruptor TransferGo has launched a new cryptocurrency trading capability, allowing customers on its mobile international payments platform to buy and sell five distinct digital currencies.
TransferGo users can now trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple through the service's mobile app.
Both Android and iOS app users will have access to the cryptocurrency trading platform.
Company officials say customer demand was the driving factor in TransferGo's decision to go live with cryptocurrency trading.
"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," said Daumantas Dvilinskas, TransferGo founder and CEO.
TransferGo customers will be able to buy and sell cryptocurrency on a platform and transaction environment that feels familiar and comfortable, making it easier to trade cryptocurrencies.
According to the most recent company data, TransferGo currently has about 650,000 mobile app users and has processed international money transfer flows upwards of USD $1bn.
For security, TransferGo has added its powerful remittance protections to the cryptocurrency facility, including anti-money laundering and know-your-customer policies.
Considered a disruptor to traditional financial institutions in the cross-border payments sector, TransferGo rolled out a real-time international payments option called TransferGo NOW just two years ago. The service has made it possible for users to make near-instant purchases or settle international payments in less than 30 minutes.
"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," said Dvilinskas.
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