Robinhood is acquiring London-based cryptocurrency platform Ziglu in order to expand operations in the UK and Europe

In an effort to travel further afield in terms of its global expansion, Robinhood recently signed a deal to acquire the British cryptocurrency exchange Ziglu Limited. A growing number of observers began to believe that the acquisition would allow the company to expand into the UK and throughout Europe.

Despite US financial services company Robinhood no longer carrying out any binary options trading, it is very active on the crypto scene. The organization revealed in a blog post that it had signed a deal with a London-based exchange for trading digital assets named Ziglu Limited. Upon approval from regulators, Robinhood will acquire the British company in order to expand into Europe.

According to Vladimir Tenev, CEO of Robinhood Markets, Ziglu possesses an impressive team that consists of crypto experts who will guide Robinhood’s operation on the Old Continent.

Along with Ziglu, we will explore ways to innovate, break down barriers and better serve our customers across the UK and Europe.

Vladimir Tenev, CEO – Robinhood Markets

Mark Hipperson, Ziglu’s CEO, emphasized that the companies share a set of similar goals, including making investing easier for new investors. He asserted that Ziglu will assist Robinhood’s expansion and provide access to crypto to millions more people.

Users of Ziglu will not see any changes in the near future. Robinhood intends to integrate the exchange “more fully” over the long term, according to the statement.

In 2020, Mark Hipperson, former Barclay’s technology chief and co-founder of Starling bank, founded Ziglu. Through its digital platform, the firm offers its customers the chance to buy and sell eleven cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and others. Users can also use their debit cards to pay for services and yield rewards on the Ziglu platform.

Robinhood is one of the leading online brokerage companies known for offering its clients a commission-free investing and trading platform in the United States. After the company rolled out trading of major cryptocurrencies such as bitcoin and ethereum in 2018, Robinhood became widely known among the crypto community.
Robinhood announced earlier this month that its crypto wallet service would soon be available to more people. A crypto-centric payment network based on bitcoin, Lightning Networks, is also expected to be supported by Robinhood in the coming months.