Ziglu Limited entered special administration on 7 July 2025. David Shambrook and Damian Webb of RSM Restructuring Advisory LLP were appointed as special administrators.
Ziglu is authorised by the UK Financial Conduct Authority (FCA) to issue electronic money (e-money) and provide payment services.
Ziglu also offers its customers cryptoasset products, including a lending product. These activities are not regulated by the FCA, although the FCA oversees compliance with anti-money laundering regulations.
On 23 May 2025, the FCA took action to protect consumers, by placing restrictions on Ziglu in relation to particular products. On 17 June, Ziglu agreed to stop carrying out both payments and cryptoasset activities while allowing customers to withdraw funds.
The FCA’s actions provided significant protections for customer money and other assets the firm held. Ziglu has since requested that all customers withdraw e-money and crypto exchange/wallet funds from their accounts.
On 26 June 2025, the directors of Ziglu applied to court to place it into special administration because they concluded that the firm was insolvent.
The special administrators are responsible for managing customer claims and returning funds back to customers. Customers should receive more information from them, including details on how to make a claim, within 8 weeks of appointment.
Customers should contact the special administrators at RSM Restructuring LLP for further information using the following contact details:
- Email: ziglu.restructuring@rsmuk.com
- Telephone: 02036 031406
- Webpage: www.ziglu.io
Ziglu client funds are not protected by the Financial Services Compensation Scheme (FSCS). The FSCS only applies to certain types of activity. This does not include e-money issuance and payment services.
