Ziglu, the crypto payments app from former Starling Bank co-founder and CTO Mark Hipperson, has launched Bitcoin Boost, an account that pays users the equivalant of an annual percentage rate of five percent on their bitcoin.
Interest on the value of the bitcoin holding in Boost accounts is calculated every second and an interest payment is added to the balance each week. Customers can buy or sell the bitcoin in their Bitcoin Boost account instantly and with no penalties.
Says Hipperson: “It’s pretty much impossible to find interest rates that are higher than the rate of inflation, and yet digital currencies and decentralised finance have massive potential to provide a real rate of return for everyone. Our aim is financial inclusion and choice - through the Bitcoin Boost account we are able to offer our customers instant access to bitcoin, and a game changing five percent rate of interest on the value of their bitcoin, no matter how large or small.”
Ziglu, which recently raised £6 million on Crwodfunding platform Seedrs, announced the addition of an additional cryptocurrency, Tezos, to the app earlier this month, giving customers access to five cryptocurrencies including Tezos, bitcoin, Bitcoin Cash, Ether and litecoin.
Customers can also now make peer-to-peer payments across all currencies, both digital and traditional, and make faster payments to any UK account as well as being able to spend through a Mastercard debit card.