Robinhood Agrees to Acquire UK Crypto Platform Ziglu

Online brokerage platform Robinhood has agreed to acquire London-based crypto platform Ziglu, giving it a Financial Conduct Authority-regulated arm in the U.K.

• No financial terms were disclosed for the deal announced Tuesday, which is subject to regulatory approval.
• Ziglu offers buying and selling services for 11 cryptocurrencies as well as a 'Boost' product which earns users yield on their holdings.
• Ziglu won approval to offer crypto services in the U.K. by financial watchdog the Financial Conduct Authority (FCA) in 2020, the third firm to gain such approval.
• “Ziglu’s impressive team of deeply experienced financial services and crypto experts will help us accelerate our global expansion efforts,” said Vlad Tenev, Robinhood's CEO and Co-Founder, in a statement.

Read more: Just-Launched Ziglu Wants to Make It Stupid Easy to Buy Crypto

This is a developing story and will be updated.