Yes, as an Electronic Money Institution we’re required to safeguard the money that we receive from our customers.
This means that any money we receive from customers is placed in a dedicated bank account and is held separately from our own funds.
Safeguarding helps to protect you because it means that if we were to become insolvent, our customers would be paid out from the safeguarding accounts before most claims against us are paid out, meaning you’d get most of your money back.
As we are an electronic money institution and not a bank, your money is not covered by the Financial Services Compensation Scheme. That’s because it’s safeguarded instead.
Ziglu is authorised and regulated by the Financial Conduct Authority for the issue of electronic money and the provision of related payment services. This authorisation is under the Electronic Money Regulations 2011 and our Financial Services Register number is 900977.
All cryptoassets are held in custodian arrangements with a custodian on your behalf with the exception of Boost accounts where legal ownership is passed in its entirety to Ziglu - Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Ziglu is registered as a cryptoasset firm with the Financial Conduct Authority for anti-money laundering supervision. Ziglu’s cryptocurrency services are not regulated by the Financial Conduct Authority. You can see the details of our registration here and more information is available on our website here.