After Shiba Inu Listing, Robinhood Acquires UK Crypto Platform Ziglu to Rev Up Expansion Plans ⋆ ZyCrypto - BitcoinEthereumNews.com
anunsyo Robinhood, a popular stock and crypto trading app, has agreed to purchase London-headquartered crypto firm Ziglu. The acquisition comes as Robinhood dips its toes further into the crypto waters amid growing interest. Robinhood Buys UK-Regulated Crypto Firm Robinhood emerged as a go-to avenue for US investors since the COVID-19 pandemic struck in March 2020. However, Robinhood has been trying to launch in the UK as part of its global expansion endeavors to no avail. The Menlo Park, California-based firm paused the roll-out of its fee-free stock-trading app in the UK indefinitely back in 2020 following pressure from U.S. lawmakers. By buying Ziglu, Robinhood appears to be making another attempt at expanding beyond the United States. “Ziglus impressive team of deeply experienced financial services and crypto experts will help us accelerate our global expansion efforts,” Robinhood co-founder and CEO Vladimir Tenev remarked in a Tuesday blog post. Pending regulatory approval, the financial terms of the agreement have not been revealed. Nevertheless, with this acquisition, Robinhood is now the proud owner of one of the few cryptocurrency companies authorized by the Financial Conduct Authority (FCA) to operate in the United Kingdom. Ziglu was awarded the UK electronic money license in 2020. The crypto fintech allows the trading