LONDON—Remittance company TransferGo has made a pioneering step in the crypto sector, rolling out a virtual currency trading service.
In response to strong demand for virtual currencies, the company now allows customers to buy and sell five of the largest tokens by market capitalization, the company announced.
The cryptocurrencies offered at launch are Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple.
The crypto service is added to the Android and iOS versions of the TransferGo app, allowing users to buy and sell cryptocurrencies “within the familiar environment of the TransferGo user experience,” the company said.
The feature’s Know Your Customer and anti-money laundering policies are also the same as those that apply to the remittance service.
CEO and founder Daumantas Dvilinskas noted, however, that TransferGo’s remittance and crypto products are separate and the latter will not allow users to send crypto to their friends and families, but only perform trading transactions, Cryptovest, reported.
Dvilinskas said over 4,000 users signed up within hours of the crypto service’s rollout.