U.K.-based TransferGo became first remittance platform to offer cryptocurrency trading for five major cryptocurrencies on mobile app

Briefing

August 15, 2018

Briefing	Crypto Trading Service - U.K.-based TransferGo became first remittance company to allow users to trade cryptocurrencies in platform Traded Cryptocurrencies – Include Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin Mobile App Trading – Available on TransferGo mobile app for iOS and Android TransferGo Background – Facilitates money transfers between 650,000 users from 45 European countries and 22 non-European countries Size of Remittances – Had processed over £500 million ($647 million) in online transfers via web and app as of 2017, achieving run-rate of 1 million remittances per year
Accelerator	Web3 Ecosystems, Tokens and Consensus Mechanisms
Market Disruption	New Payment Technologies, Unbundling Banking
Business Model and Practices Business Model and Practices	Managed Product Portfolios
Sector	Financial Services
Organization	TransferGo
Source	"TransferGo adds cryptocurrencies to remittance app," Finextra, https://www.finextra.com/; Partz, H., "UK remittance service TransferGo adds crypto trading", The Cointelegraph, https://cointelegraph.com/; "TransferGo," Wikipedia, https://en.wikipedia.org/; AcceleratingBiz analysis
Original Publication Date	July 27, 2018

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