Robinhood set to acquire Ziglu

Trading platform Robinhood has announced that it’s placing a bid on Ziglu, a crypto trading platform from the UK. The US-based company previously attempted to launch in the UK, but ended up pulling the plug. Now, it will enter the market with this acquisition.

Robinhood is a stock trading platform based in the US. Through its app, users can invest in stocks, options, and ETFs. The founders want to make investing accessible, with uniform interest rates and no account minimums.

‘Common DNA’

UK cryptocurrency broker Ziglu has announced the planned acquisition in a message to its users. “Ziglu and Robinhood share a common DNA, working to reduce the barriers to entry for a new generation of investors, and we’re looking forward to pursuing that mission together”, said founder and CEO Mark Hipperson.

‘Ziglu will be integrated into Robinhood.’

Customers of Ziglu won’t notice any changes on the short term. Eventually, the platform will be integrated into Robinhood. The acquisition means that the US-based company is entering the UK. The founders are already planning to expand beyond the UK into Europe.

Further expansion

“Ziglu’s impressive team of experienced financial services and crypto experts will help us accelerate our global expansion efforts”, said Vlad Tenev, CEO of Robinhood. “Together with the Ziglu team, we’ll work to leverage the best of both companies.”

‘Ziglu’s team will help us accelerate our global expansion efforts.’

As a result of the acquisition, Robinhood will introduce crypto investing to its platform. It’s unclear what amount of money is involved in the deal, but is estimated to be in the millions. Ziglu raised 8.4 million euros last year in crowdfunding.