Robinhood Markets Incorporation, a financial services firm based in the United States, announced on April 19 that it had signed an agreement to acquire Ziglu Limited, a UK-based electronic money institution and crypto-asset firm. The transaction is contingent on regulatory approvals and other customary closing conditions.
“As we seek to expand internationally, we are pleased to announce that we have agreed to acquire Ziglu Limited… “With Ziglu, UK-based customers can buy and sell eleven cryptocurrencies, earn yield through its ‘Boost’ products, pay with a debit card, and move and spend money without fees, even internationally,” Robinhood said in a blog post.
“Ziglu and Robinhood share a common set of goals, working to lower the barriers to entry for a new generation of investors, and we’re excited to pursue that mission together,” said Mark Hipperson, Ziglu’s Founder and CEO. “
As part of Robinhood, we’ll accelerate Robinhood’s expansion across Europe and provide millions more customers with better access to cryptocurrency and its benefits.”
“Ziglu’s impressive team of deeply experienced financial services and cryptocurrency experts will assist us in accelerating our global expansion efforts,” said Vlad Tenev, CEO and Co-Founder of Robinhood Markets.
“We’ll collaborate with the Ziglu team to leverage the best of both companies, exploring new ways to innovate and break down barriers for customers across the UK and Europe.”
Nothing will change for current Ziglu customers in the near future. Longer term, we plan to fully integrate Ziglu into Robinhood, take the Robinhood brand global, and work to expand operations beyond the UK into Europe.
To read our blog on “3 African countries implement cryptocurrency and blockchain solutions” click here.
