FinTech: Robinhood Acquires UK-Based Crypto Assets Firm Ziglu
Robinhood is looking to expand its crypto operations into the UK, and then Europe.
Ziglu, a U.K.-based electronic money institution and cryptoasset firm, allows customers to buy and sell eleven cryptocurrencies, pay using a debit card, and remit money abroad without fees. Robinhood (NASDAQ: HOOD), itself a major cryptocurrency-friendly stock trading app, has acquired Ziglu for an undisclosed sum with the objective of expanding its crypto business internationally, particularly UK and Europe. (Robinhood)
“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,” said Mark Hipperson, Founder and CEO of Ziglu. “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.”
“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,” said Vlad Tenev, CEO and Co-Founder of Robinhood Markets.
Former Barclays technology head and Starling bank co-founder Mark Hipperson founded Ziglu in 2020. That same year, Robinhood shelved its plans to launch in the UK to focus on its home market for the near future.
Though current Ziglu customers will not see any changes, Robinhood will ultimately seek to integrate Ziglu with itself and extend its brand footprint into the UK and Europe.
Related Story: Robinhood Would Allow Users To Loan Stocks, Earn Passive Income
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