I do not know if we bitcoin enthusiasts are to be excited about this news, I don't really think bitcoin was ever designed to be kept or saved in a bank, that a is centralized system imo, we are supposed to be in total control of our funds, that is why we use a bitcoin wallet and not a bank.

They are excited. They are not going to use it though.

These people are avoiding KYC to exchanges so its obvious they will also not going to use this Ziglu bank. They'd be happy to freeze the coins you have if you don't submit KYC and this is the scariest time of crypto bcause I think they are all up to collecting which coin belongs to these banks who tries to stop decentralization.

Is it a good approach that a financial bank will pattern it's design more like a website of an ICO project rather than a traditional design for any bank's website? I mean the rendered images of their bank's app alone is pretty similar to a regular crypto wallet like what Coinbase have. I guessed that they are only doing this in order to make themselves know that they are indeed a bank for the crypto industry and I hope that it will work for them. UK here is a pretty big market and I know a lot of their citizens are already aware about cryptocurrencies and I think this will be a really good start for them to test out if a crypto bank like them will help make a difference in the industry.

It's not really a "Bitcoin bank." It's basically just another investment platform like Robinhood Crypto. According to their terms, customers won't be able to deposit/withdraw cryptocurrencies at all:

I was wondering how they were going to get round the KYC requirements for allowing users to trade "across multiple exchanges". Turns out they don't need to, because users aren't buying bitcoin at all. All they are buying is exposure to bitcoin's price movements, and can't do anything with their bitcoin other than convert it back in to fiat and withdraw it. Complete gimmick.

What's more is that this isn't new. There are plenty of similar companies and app in various countries around the world which offer exactly this; the promise of "buying" cryptocurrencies direct from the bank account you set up with them, but you can't withdraw, hold, transfer, send, or use the cryptocurrency in any way.

Yes I must agree with this. The options available to people who live in third world countries are to either continue using their national currency, which may be subject to severe inflation like what happened to Chile and Lebanon, or to somehow buy cryptocurrencies because gold and other traditional assets are completely closed off to them.

These are the kind of people who can't submit their documents for KYC verification assuming the services are even available for their country.

Creating a system that support the use of both fiat and bitcoin is the best way to bring mass adoption of bitcoin and cryptocurrency in general. This is a great idea to see someone trying to develop a system that will help the fusion of bitcoin and fiat... I just hope we in the crypto space will support this great idea.

I think if bitcoin can be used in mobile bank, it will make the price of bitcoin higher.
This way is making people who don't know bitcoin, will know it. If they interested it can make people want to buy bitcoin and invest like stock or mutual fund.
It will also make exchange quickly from bitcoin to cash in ATM.

There's no way you can ever get real Bitcoin in or out. You're buying or selling price exposure and nothing else. Maybe they're not going anywhere near the real deal either.

For better or worse I think this will be appealing to quite a few people. It's totally mindless and all of it is someone else's problem. Not for me though.

I do wonder what'll happen in times of enormous volatility. And what happens if you put in 10 quid and it becomes a million quid. In theory it should breeze on back to your bank account. In reality they might have kittens despite it being entirely through them.