Robinhood Announces Planning to Buy British Crypto Platform Ziglu
Nasdaq-listed commission-free stock trading platform, Robinhood has signed an agreement to acquire a UK-based electronic money institution and crypto-assets firm Ziglu. As announced by the company, the deal is subject to regulatory approval and other customary closing conditions. “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 Robinhoods expansion across Europe and bring better access to crypto and its benefits to millions more customers.” Ziglu grants UK customers the opportunity to buy 11 different digital assets and provides additional services like ‘Boost’ in which users can earn a yield on their digital assets. As a regulated platform in the United Kingdom, Ziglu allows its customers to make payments using a debit card, and move and spend money, even abroad, without fees. Robinhoods acquisition of Ziglu aims to expand its global footprint as the platform can quickly help it reach more users in the UK and Europe on a larger scale. The commission-free services Robinhood offers a better transaction experience on Ziglu come off as a convenient convergence that aligns