Robinhood acquires British crypto firm Ziglu to push expansion plans

Robinhood, a large cryptocurrency-friendly banal trading app, is pushing planetary enlargement by acquiring the United Kingdom-based crypto plus steadfast Ziglu.

Robinhood officially announced Tuesday that it signed a woody to get Ziglu, taxable to regulatory approvals and different closing conditions. The steadfast declined to disclose the size of the woody to Cointelegraph.

“Subject to regulatory approval, successful the adjacent term, thing volition alteration for existent Ziglu customers. Longer term, we’ll integrate Ziglu much afloat into Robinhood, bring the Robinhood marque overseas, and enactment to grow operations beyond the U.K. into Europe,” the spokesperson for Robinhood said.

The acquisition aims to assistance Robinhood accelerate its planetary enlargement and yet participate markets some successful the U.K. and crossed Europe. The determination comes successful enactment with Robinhood’s renewed enlargement efforts this twelvemonth aft the level antecedently aborted its ambitious enlargement plans successful countries similar the U.K. backmost successful 2020.

This aged well… https://t.co/OCQNby71Cw https://t.co/YgjYSHVGru

— Robinhood (@RobinhoodApp) April 19, 2022

As Cointelegraph reported, Ziglu was founded by erstwhile Barclays exertion head and Starling slope co-founder Mark Hipperson successful 2020. The steadfast provides a integer level that enables customers to bargain and merchantability eleven cryptocurrencies similar Bitcoin (BTC), Ether (ETH) and others The Ziglu level besides allows users to output rewards and wage for services utilizing a debit card.

Robinhood is simply a large online brokerage known for offering a commission-free investing and trading level successful the United States. Robinhood became wide known successful the crypto assemblage aft the institution rolled retired trading of large cryptocurrencies similar BTC and ETH successful 2018.

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Despite immoderate controversy astir its trading policies and increased attraction from U.S regulators past year, Robinhood has been pushing improvement recently. The institution rolled retired its integer wallet feature for 2 cardinal further users successful aboriginal April 2022, announcing plans to integrate the Lightning Network.