Stablecoin Boost Accounts (GBP, EUR, USD):
Our stablecoin Boost accounts are investment accounts where a customer can obtain exposure to a stablecoin. Stablecoins are a form of cryptocurrency, the value of which is pegged or tied to an external reference such as another currency or commodity.
When you move funds into your Sterling Boost account from your Ziglu sterling cash account, you exchange your pounds sterling into a stablecoin. We will advise the rate of exchange from your pounds sterling to the stablecoin at the time of exchange, and this rate of exchange will remain fixed. As the value of the stablecoin rises and falls, so too does the value of the stablecoin in your Stablecoin Boost account. Find out more about stablecoins in our blog.
We then borrow that stablecoin from you. We partner with leading lending platforms, who lend to institutional investors, such as hedge funds.
Lending your stablecoin generates a return, which we pass back to you. We calculate the interest on your account every second, and pay that interest back into your account every Saturday morning.
Crypto Boost accounts:
Our crypto Boost accounts are accounts which allow you to invest in cryptocurrencies like Bitcoin.
Say, you open up a Bitcoin Boost account. The value of the bitcoin in your Bitcoin Boost account is precisely the same as it would be in your normal bitcoin account, As the price of the asset rises and falls, so too does the value of the bitcoin in your Bitcoin Boost account.
When you add funds to your Bitcoin Boost account, you are buying bitcoin which Ziglu then borrows from you. We partner with leading lending platforms, who lend the bitcoin on, primarily to institutional investors.
Lending your bitcoin generates a return, which we pass back to you (your interest is also paid to you in bitcoin). We calculate the interest on your account every second.
While every crypto Boost account has a different rate of interest, they all work in the same way.
When you decide that you want to exchange some or all of the cryptocurrency in your crypto Boost account to GBP, you can do that at any time, instantly and without a penalty. You can even exchange the asset into any of the other cryptocurrencies that we offer on Ziglu.