Robinhood Begins European Expansion, Acquiring Regulated UK-Based Crypto Firm Ziglu – Exchanges Bitcoin News

Nasdaq-listed trading platform Robinhood is buying Ziglu, a London-based digital cash establishment and crypto asset agency. The acquisition is a part of Robinhood’s worldwide growth 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 introduced Tuesday that it has signed an settlement to amass a regulated cryptocurrency agency Ziglu.

Citing its mission to “democratize finance for all,” Robinhood emphasised, “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 glance to develop internationally, we’re excited to announce that we’ve signed a deal to amass Ziglu Limited, a UK-based digital cash establishment and cryptoasset agency.

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

Founded in 2014, Ziglu permits U.Ok.-based retail buyers to purchase and promote 11 cryptocurrencies. Users can even earn yield through Ziglu’s “Boost” merchandise, pay utilizing a debit card, in addition to switch and spend cash worldwide with out charges, the announcement particulars. The U.Ok crypto agency is regulated by the Financial Conduct Authority (FCA). The group was valued at £85 million final November when it raised £7 million.

Ziglu CEO Mark Hipperson said that the 2 corporations “share a common set of goals,” elaborating:

As a part of Robinhood, we’ll supercharge Robinhood’s growth throughout Europe and convey higher entry to crypto and its advantages to tens of millions extra prospects.

The announcement provides that nothing will change within the close to time period for present Ziglu prospects. However, in the long term, Robinhood will totally combine Ziglu so as to “bring the Robinhood brand overseas” as it really works to “expand operations beyond the U.K. into Europe.”

Robinhood introduced its plan to launch internationally in January, stating 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, explained in February that his firm’s world growth will likely be “crypto first.” He believes that from the regulatory standpoint, the trail 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 just lately rolled out its cryptocurrency wallets to greater than two million prospects. The platform additionally added assist for 4 extra cryptocurrencies this month, together with meme crypto shiba inu. SHIB is now supported on the platform alongside bitcoin (BTC), bitcoin money (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum traditional (ETC), litecoin (LTC), compound (COMP), polygon (MATIC), and solana (SOL).

What do you concentrate on Robinhood buying Ziglu and its worldwide growth plan? Let us know within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.