In its global expansion, Robinhood has signed a deal to acquire Ziglu Limited, a UK-based electronic money institution and cryptoasset firm.
Ziglu offers its UK customers to buy and sell eleven cryptocurrencies. They can earn yield via its ‘Boost’ products, pay using a debit card, and move and spend money, even abroad, without fees.
Ziglu’s team and technology will help Robinhood accelerate its international expansion in the UK, as well as across Europe.
Mark Hipperson, Founder and CEO of Ziglu, commented:
Mark Hipperson
Source: Twitter
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.
Vlad Tenev, CEO and Co-Founder of Robinhood Markets, added:
Vlad Tenev
Source: LinkedIn
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.
Robinhood highlighted that nothing will change for current Ziglu customers in the near term. The company plans to integrate Ziglu more fully into Robinhood in the future, bring the brand overseas, and work to expand operations beyond the UK into Europe.
