Ziglu

Ziglu is a financial services company founded in 2018 by Mark Hipperson, who also co-founded Starling Bank where he served as CTO. Drawing from his extensive background in banking and technology, including a tenure as Head of Technology at Barclays, Hipperson established Ziglu to bridge the gap between traditional fiat currencies and digital assets. The company launched its app in June 2020 after securing £5.25 million in seed funding.

The firm operates as an electronic money institution (EMI) and a registered cryptoasset firm, authorized by the UK's Financial Conduct Authority (FCA). This dual registration allows Ziglu to offer both regulated payment services and non-regulated cryptoasset services. The platform is designed for retail clients in the UK and Europe, providing a single application to manage both traditional money (GBP, EUR, USD) and a curated selection of over 20 cryptocurrencies. Its business model generates revenue through a 1.25% exchange fee on cryptocurrency transactions, interchange fees from its debit card, and foreign exchange services.

Ziglu's core product is a mobile application that provides an integrated experience for banking and crypto. Users can hold funds in a safeguarded GBP account, perform instant peer-to-peer payments, and make exchanges between fiat and digital currencies. The platform also offers a debit card for spending, foreign exchange services with no commission, and yield-bearing investment accounts through its 'Boost' product. A significant milestone was the planned acquisition by US-based Robinhood in April 2022, which intended to use Ziglu as its entry into the UK and European markets. However, the deal, initially valued at $170 million, was later repriced to $72.5 million due to the downturn in the crypto market and eventually collapsed. Following the failed acquisition and challenging market conditions, Ziglu entered special administration in June 2025 after facing financial difficulties and regulatory intervention from the FCA.

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