Robinhood fänkt d'europäesch Expansioun un, kritt reglementéiert UK-baséiert Kryptofirma Ziglu

Nasdaq-listed trading platform Robinhood is acquiring Ziglu, a London-based electronic money institution and crypto asset firm. The acquisition is part of Robinhood’s international expansion plan. Robinhood “sees a big opportunity in serving customers across the globe.”

Robinhood Acquiring Regulated Crypto Firm Ziglu

Popular U.S.-based trading platform Robinhood announced Tuesday that it has signed an agreement to acquire a regulated cryptocurrency firm Ziglu.

Citing its mission to “democratize finance for all,” Robinhood emphasized, “That’s why earlier this year, we announced that we’ve set aggressive goals to start opening our crypto platform up to customers internationally.” The Nasdaq-listed trading platform added:

As we look to expand internationally, we’re excited to announce that we’ve signed a deal to acquire Ziglu Limited, a UK-based electronic money institution and cryptoasset firm.

The deal is “subject to regulatory approvals and other customary closing conditions,” Robinhood noted.

Founded in 2014, Ziglu allows U.K.-based retail investors to buy and sell 11 cryptocurrencies. Users can also earn yield via Ziglu’s “Boost” products, pay using a debit card, as well as transfer and spend money worldwide without fees, the announcement details. The U.K crypto firm is regulated by the Financial Conduct Authority (FCA). The group was valued at £85 million last November when it raised £7 million.

Ziglu CEO Mark Hipperson stated that the two companies “share a common set of goals,” elaborating:

Als Deel vu Robinhood wäerte mir dem Robinhood seng Expansioun iwwer Europa iwwerlaascht a besseren Zougang zu Krypto a seng Virdeeler fir Millioune méi Clienten bréngen.

The announcement adds that nothing will change in the near term for current Ziglu customers. However, in the longer term, Robinhood will fully integrate Ziglu in order to “bring the Robinhood brand overseas” as it works to “expand operations beyond the U.K. into Europe.”

Robinhood announced its plan to launch internationally in January, behaapt that it “believes in the immense potential of the crypto economy and sees a big opportunity in serving customers across the globe.”

Steve Quirk, Robinhood’s chief brokerage officer, erkläert in February that his company’s global expansion will be “crypto first.” He believes that from the regulatory standpoint, the path for Robinhood to “go global and have the most traction is probably through crypto, and then maybe follow with other components of the offering.”

Robinhood kuerzem ausgefouert ginn its cryptocurrency wallets to more than two million customers. The platform also added support for four additional cryptocurrencies this month, including meme crypto shiba inu. SHIB is now supported on the platform alongside bitcoin (BTC), Bitcoin Cash (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum klassesch (ETC), Litecoin (LTC), compound (COMP), polygon (MATIC), and solana (SOL).

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Kevin Helms

E Student vun der éisträichescher Economie, de Kevin huet Bitcoin am 2011 fonnt an ass zënterhier en Evangelist. Seng Interesse leien an der Bitcoin Sécherheet, Open-Source Systemer, Netzwierkungseffekter an der Kräizung tëscht Wirtschaft a Kryptografie.