Robinhood to buy UK crypto platform Ziglu

The deal will be closed after regulatory approval

20.04.2022 - 11:05

321

1 min

What’s new? Online broker Robinhood will buy a UK-based cryptocurrency company Ziglu Limited to expand its influence in the European market. . In the long term, Ziglu’s infrastructure will be integrated into Robinhood, according to the online broker’s blog.

Robinhood’s blog

How do the parties comment on the deal? Ziglu founder and CEO Mark Hipperson said that both sides of the deal share common goals of lowering barriers for a new generation of investors. He added that Ziglu will strengthen Robinhood’s expansion process in Europe and make it easier for millions of new customers to access cryptocurrencies. Robinhood CEO and co-founder Vlad Tenev believes that the Ziglu team, made up of experienced financial services and cryptocurrency experts, will help realize the company’s global expansion intentions.

What is known about Ziglu? It is a UK-based platform, founded in 2018, that allows one to buy and sell cryptocurrencies. Ziglu customers can trade 11 cryptocurrencies, pay for purchases with a card and make transfers abroad. The platform has been approved by the UK’s Financial Conduct Authority (FCA) as a legal crypto provider.

What had happened before? Robinhood announced the launch of a beta version of its cryptocurrency wallet. With the new feature, the users will be able to transfer their assets to other wallets.

Author: