Mark Hipperson, the co-founder of Starling Bank, has launched cryptocurrency platform Ziglu following a seed funding round of £5.25 million.

The app lets customers to quickly and competitively exchange fiat currency for cryptocurrencies - including Bitcoin, Ether, Litecoin and Bitcoin Cash - and monitor their balances in read time.

The company was founded by Hipperson, who was the first chief technology officer of challenger bank Starling and is also a former head of technology at Barclays Bank.

This is the first time that Ziglu has been available beyond its beta phase. It has designed and built in the cloud with flexible, scalable technology, and aims to offer transparent pricing with user funds held in a segregated account.

Chief executive Hipperson commented: “This launch marks the beginning of an exciting journey for Ziglu to deliver transformational financial services for our customers.

"By offering immediate and safe access to best-price crypto, customers can spend, exchange and send their money, regardless of the currency, where, when and how they want.”

The startup has so far been funded by a combination of Hipperson's own money and several angel investors. As reported earlier this year, he has ambitions to to process up to $1 billion in transactions in its first year after launch, with an expansion from UK to the US by the third quarter.

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