Robinhood, a Nasdaq-listed trading platform, has acquired Ziglu, a London-based e-commerce and crypto asset company. This acquisition is part of Robin Hood’s international expansion program. Robin Hood “sees a great opportunity to serve customers around the world.”
Robin Hood Acquires Regulated Cryptocurrency Company Ziglu
Robin Hood, a popular US-based trading platform, announced on Tuesday that it has signed an agreement to acquire regulated cryptocurrency company Ziglu.
Citing the mission of “democratizing the finances of all,” Robin Hood announced earlier this year that he had set a positive goal of starting to open the crypto platform to customers internationally. I did. ” Added trading platforms listed on Nasdaq:
We are pleased to announce that we have signed an agreement to acquire Ziglu Limited, a crypto asset company and an e-commerce institution based in the United Kingdom, with the aim of expanding our business internationally.
Robin Hood said the deal “is subject to regulatory approvals and other customary terms and conditions.”
Founded in 2014, Ziglu enables UK-based private investors to buy and sell 11 cryptocurrencies. Users can also earn yields through Ziglu’s “Boost” products, pay with debit cards, and send money around the world with no fees. UK cryptocurrency companies are regulated by the Financial Conduct Authority (FCA). The group was valued at £ 85m when it raised £ 7m last November.
Mark Hipperson, CEO of Ziglu, said the two companies “share a common goal” and said:
As part of Robin Hood, we will step up Robin Hood’s expansion across Europe, bringing better access to crypto and its benefits to millions of more customers.
The announcement adds that nothing will change in the short term for current Ziglu customers. However, in the long run, Robin Hood will function to “expand business beyond the UK to Europe” and will fully integrate Ziglu to “bring the Robin Hood brand abroad”.
Robin Hood announced plans to launch internationally in January. State “We believe in the immense potential of the crypto economy and see great opportunities to serve our customers around the world,” he said.
Steve Quike, Chief Securities Officer of Robin Hood, explanation In February his company’s global expansion will be “crypto first”. From a regulatory perspective, he believes Robin Hood “the way to be global and have the greatest traction is probably through cryptocurrencies, and perhaps according to other components offered.”
Recent Robin Hood roll out Its cryptocurrency wallet is offered to more than 2 million customers.The platform also added support for four additional cryptocurrencies this month, including: Meme Crypto Shiba Inu.. SHIB is now supported on the platform along with Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin sv (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (etc), Litecoin (LTC), Composite (COMP), Polygon (MATIC), and Solana (SOL).
What do you think of Robin Hood’s acquisition of Jiggle and its international expansion plans? Let us know in the comments section below.
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