coinfomania.com
19 April 2022 13:02, UTC
Robinhood, an American commission-free investing company, announced on Tuesday that it hassigned an agreement to acquire the UK-based crypto firm, Ziglu.
In an effort to expand its crypto services to the United Kingdom and other parts of the world, Robinhood is set to acquire Ziglu Limited for an undisclosed amount.
The companies noted that the acquistion will not affect existing Ziglu customers.
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The acquisition is aimed at enabling crypto users in these regions to buy and sell up to 11 different crypto assets using cards. Users will also be able to earn yield from Ziglu’s services.
“As part of Robinhood, we’ll supercharge Robinhood’s expansion across Europe and bring better across to crypto and its benefits to millions more customers,” Mark Hipperson, founder and CEO of Ziglu, said.
Vlad Tenev, the CEO and co-founder of Robinhood Markets, also commented, saying:
“Together with the Ziglu team, we’ll work to leverage and break down barriers for customers across the UK and Europe.”
The goal to expand its services to the UK comes after a failed attempt was made by the American investing firm in 2020.
This aged well… https://t.co/OCQNby71Cw https://t.co/YgjYSHVGru
— Robinhood (@RobinhoodApp) April 19, 2022
Robinhood is a crypto-friendly investment company that allows traders to buy and sell several crypto assets including Bitcoin, Ethereum, and Dogecoin.
The platform has continued to boost its services by enabling deposits and withdrawals for crypto assets, as opposed to only allowing users to get exposure to price movements without owning the underlying assets.
Last week, the Robinhood added support popular memecoin Shiba Inu ($SHIB) for trading. The development came after rumors of $SHIB being listed on the platform had spread since the start of 2022.
