The major cryptocurrency-friendly stock trading platform Robinhood has decided to pursue its global expansion by the acquisition of the cryptocurrency asset firm based in the United Kingdom named Ziglu.
The official announcement was made on Tuesday by Robinhood by stating that they had signed a deal with the firm. The size of this deal has not been disclosed by Ziglu. The platform is planning to integrate Ziglu with Robinhood, and nothing will happen for the existing Ziglu customers. Robinhood has further plans to expand its influence over the European market.
With this acquisition, Robinhood will be able to enter the European Market, and this new expansion move came after the effort to expand their business was aborted in the last year. Ziglu was founded by the former Starling Bank CEO and the founder of Barclays technology Mark Hipperson in the year 2020. With the help of this platform, users were able to buy eleven different types of cryptocurrencies, including the likes of Ether and Bitcoin. Ziglu also allows its users to pay for the services using a debit card.