Daumantas Dvilinskas, the founder and chief executive officer of remittance firm TransferGo, recently revealed the company launched a cryptocurrency trading facility, to allow users to buy and sell five cryptocurrencies on its platform.
Speaking to Bloomberg, Dvilinskas revealed the move was a response to customer demand, as TransfeerGo found that users who sent family members money through its platform were interested in using cryptocurrencies to do so.
As such, the remittance company added support for five cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ripple’s XRP, and Litecoin. He said:
We’ve launched this cryptocurrency trading facility 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.
He touted cryptocurrencies are a “fair, transparent, and convenient solution” for its clients. Initially, users won’t be able to send cryptos to their friends and family, but will instead have a “very convenient” way to buy them for themselves through TransferGo’s app.
When asked if this was a “clear bet” on whether cryptocurrencies are here to stay, Dvilinskas noted the company has a “very long-term perspective” on cryptos, after seeing them go through multiple waves. Conceding they’re here to stay, he claimed that, as a platform, the company wants to give its customers access to the market.
The CEO of the UK-based company further revealed people in Europe are looking to use cryptos to send money to developing nations. As CryptoGlobe covered, the cryptocurrency community, through charitable projects like eatBCH, has been sending funds to countries like Venezuela and Zimbabwe.
To TransferGo, a company with over 650,000 users growing 100% year-over-year, blockchain technology is “very exciting,” presumably because of its potential. Notably, its move comes shortly after payments service Skrill added cryptocurrency buy and sell options to its platform.
These join a growing number of financial services providers entering the cryptocurrency ecosystem. This year, zero-fee trading app Robinhood launched Robinhood Crypto, and is expanding it throughout the US. Square’s Cash app, headed by Twitter CEO Jack Dorsey, also started offering bitcoin buy and sell options, which as of May netted it $200,000