Online trading platform Robinhood (HOOD) has acquired London-based crypto platform Ziglu.
The deal was announced on Tuesday, however remains subject to regulatory approval and other closing conditions.
Ziglu received approval in 2020 to offer its UK-based customers the option to buy and sell eleven cryptocurrencies, earn yield via its ‘Boost’ products, pay using a debit card, and move and spend money.
I am excited to announce that @ZigluMoney has signed an agreement to be acquired by Robinhood. Democratising finance has always been my passion and with @RobinhoodApp we share a common goal. Working to reduce the barriers to entry for a new generation https://t.co/KMBS6jv0g0
— Mark Hipperson
(@markhippo) April 19, 2022
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Vlad Tenev, CEO and Co-Founder of Robinhood Markets, said:
“Ziglu’s impressive team of deeply experienced financial services and crypto experts will help us accelerate our global expansion efforts.
Together with the Ziglu team, we’ll work to leverage the best of both companies, exploring new ways to innovate and break down barriers for customers across the UK and Europe.”
Mark Hipperson, Founder and CEO of Ziglu, said:
“Ziglu and Robinhood share a common set of goals, working to reduce the barriers to entry for a new generation of investors, and we’re excited to pursue that mission together.
As part of Robinhood, we’ll supercharge Robinhood’s expansion across Europe and bring better access to crypto and its benefits to millions more customers.”
The announcement stresses that existing Ziglu customers will not experience any changes and that it will gradually be integrated into Robinhood’s platform thereby expanding the brand beyond the UK into the European mainland.
The post Robinhood Acquires UK Crypto Asset Firm Ziglu appeared first on iGaming.org.
Source: Igaming
