Monzo and Crypto - Time to adapt?

For anyone that doesn’t know. Ziglu is a cash account and debit card that sits alongside your investments such as Crypto.

It was founded by the Co-Founder and CTO of starling bank.

My question is, will Monzo incorporate crypto assets in their app to allow them to sit alongside our cash account and be used with our debit card. I believe thar crypto is only going to become bigger in the next decade and I feel with Monzo large customer base of over 5.5m users, this will help Monzo on its ambition to be profitable.

This is just one of the things that I think should be incorporated within Monzo in the coming years. Alongside, Mortgages (see previous topic on Monzo and Generation Home).

Just my opinion - would be great to have a discussion with other supporters of Monzo and ways in which Monzo could grow going forward.

Crypto is predominately used by criminals and nerds. This is not how Monzo is going to make money.

Monzo are one of the more lenient, in that they don’t just block your account for trading. Lots of banks have outright bans on it.

None of that or it being mainstream is going to change anytime soon, if ever.


People trade crypto. Very few spend it

Why would you spend it when it could go up 20% by lunchtime?

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To be fair, it was nerds who joined Mondo at the start.

Monzo could absolutely make money with Crypto transactions if they wanted to, but they don’t want to and that is ok.


I think this may change with time, but yes I agree. Currently people are using crypto as a store of wealth.

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Why bother incorporating it now then? See if that changes first. But I don’t think it will

How would showing it app make Monzo profitable? By selling it and adding fees?


You’ve made strong assumptions here that harm the crypto name every time they are repeated. Please stop doing this.

Sure criminals use crypto but criminals also use banks and cash.

Given the choice between private and anonymous banks and cash vs having your transaction history in public with crypto, most criminals will continue to use cash and banks.

And yes some nerds use crypto, it’s the same initial techy geographic that fintechs like Monzo had before it became a bank even your gran would use.

The same adoption applies to crypto where it’s becoming more mainstream each day until it’s on par with fiat.


This just isn’t the case and it will never get there.



:8ball: I disagree


Until it’s not as volatile, then maybe.

You’ve changed from never to maybe. :sweat_smile:

Bitcoin is volatile, and I would say for decades, there’s thousands of other alts better suited for stability.

Crypto for payment is just one thing it does.

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Ha, I still don’t think it will ever get to the mainstream levels. It will get more popular if it’s stable.

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Unlikely. Monzo don’t allow business accounts for businesses trading in virtual currencies.

Are you talking specifically Bitcoin, or are you talking Crypto and Blockchains?

The use case for immutable ledgers are not a future thing that’s a now thing.

Bitcoin as a mainstream payment method for daily transactions will never be a thing. Trading, yep.

In the same way I’m never going to carry a bar of gold into Sainsbury’s and slap it down at the register.

We’ll never know if crypto becomes mainstream until it does. You either take a gamble it does or not. Then it’s ca-ching or a ha told you so.

I personally don’t see it as a fad or going away. It’s adoption is growing rapidly.

And the chance that CBDC replace fiat as we know today is a possibility in our lifetimes (depending on how old you are)

CBDC are Fiat by nature, and just make the flow of money easier, and potentially a route to financial inclusion. Monzo will be involved there, as I expect all banks will.

What I don’t think Monzo should be doing is letting scope creep kick in at the level of being a trading platform for Crypto, it’s not a space they should be involved in


I’d rather monzo focus on being a bank.

It should be the master of one thing rather than average at lots.

Atm monzo is average again imo.

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Why do we need yet another crypto topic :confused:


Back to the OP. I think it’s better to keep my crypto and mainline banking separate, and Ziglu provides for that separation.

Coz the topic is decentralised


We wanting/needing to start a fresh new one?