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Crypto exchange has rejuvenated the aborted UK expansion in 2020 and acquired british crypto firm Ziglu
One among major crypto friendly stock trading application Robinhood is upto pushing its expansion plans further. In order to reach its global expansion goal the financial services company acquired the crypto assets firm Ziglu, based in the United Kingdom.
In an official announcement on Tuesday. Robinhood said that it had done a deal signed for acquisition of Ziglu which is although subject for regulatory approval and other conditions related to closings. More over other details regarding the size or the amount of the deal is yet to disclose.
Spokesperson for Robinhhod said that nothing will be changed for existing customers for UK based crypto exchange Ziglu and for now it’s just a subject to regulatory approval, in near short term. While for a longer term, the Robinhood team will integrate the crypto firm more with the financial firm bringing the Robinhood brand expanding overseas and also work to expand its operation way beyond just the UK in Europe.
The acquisition of Zuglu aims to bring some support for Robinhood to pace up the international expansion and ultimately to enter both the markets in the United Kingdom and all over Europe. Recent movements regarding the expansion cam in light of renewed efforts for expansion of Robinhood this year after when the platform has aborted its highly anticipated expansion plans that includes countries like the United Kingdom way back in 2020.
As far as Ziglu is concerned, the crypto exchange was founded by former head at Barclays Technology and Starling bank co-founder Mark Hipperson in 2020. The crypto firm makes customers able to buy and sell from available eleven cryptocurrencies on the platform including Bitcoin (BTC), Ether (ETH) and several others. The platform of Zigly also allows its users to generate rewards and to pay using debit cards for services.
Robinhood it although a major online brokerage firm which is known for its offering of commission free investing and trading platform across the United States. It became widely known among the crypto community after the firm rolled out trading of several major cryptocurrencies like bitcoin and ethereum in 2018. Apart from some controversies around the trading policies of financial services platforms and the waking up attention from US regulators since last year has pushed Robinhood for development recently.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
