Laura WilesZiglu Limited – an authorised e-money and payment services firm – has entered into special administration.
David Shambrook and Damian Webb of RSM were appointed joint special administrators of the firm on 7 July 2025. Late in June, the directors had applied to court for a special administration order, having concluded that the firm was insolvent.
Ziglu also offers cryptoasset products, including a lending product, which are not currently regulated by the FCA, although the regulator oversees compliance with AML regulations. The firm was founded by former Starling Bank co-founder, Mark Hipperson.
The appointment follows the FCA’s action in May to restrict Ziglu operations in relation to particular products, and in June, when the firm agreed to cease both payment and cryptoasset activities.