TransferGo – a remittance operator based in the UK – has reportedly become the first remittance service provider in the world to offer digital currency trading – according to Bloomberg. This development came to light on the 27 of July.
The Supported Digital Currencies
The UK-based remittance service now lets users purchase and sell 5 major digital currencies, such as Litecoin (LTC), Bitcoin (BTC), XRP (XRP), Ethereum (ETH), and Bitcoin Cash (BCH). According to Daumantus Dvilinskas – the founder and CEO of TransferGo – the digital currency trading option was launched in response to high demand from their client base.
He said: “With more than 4,000 users signing up in the first couple of hours, it is obvious that there is a very strong demand for a reliable and simple trading and investment solution.”
TransferGo was founded back in 2012, and it presently has more than 600,000 registered users. They have also secured strategic partnerships with 30 banks. Remittance is the transfer of fund from one foreign worker to another across international borders. Last year, global remittance flows to developing nations got to an enormous $466 billion.
Sometime in June, a subsidiary of the top fiat payment service provider in Russia – Qiwi Blockchain Technologies (QBT), allegedly launched a digital currency investment bank designed on a “classic investment banking model.”
According to the CFO of the company, the upcoming HASH infrastructure will start offering digital currency trading services by next year, after the firm has acquired the required licensing.
Litecoin (LTC) Price Today – LTC / USD
At the time of writing, Litecoin (LTC) is trading at $84 after a decrease of about 1 percent over the past twenty-four hours. The current market cap of the digital currency is $4.84 billion and its trading volume over the past twenty-four hours is $283.06 million.