Robinhood to buy UK crypto business Ziglu

Stock trading app Robinhood has announced it is buying British cryptocurrency FinTech Ziglu.

Ziglu enables UK-based consumers to buy and sell eleven cryptocurrencies and earn yield through its ‘Boost’ products.

“Ziglu and Robinhood share a common set of goals, working to reduce the barriers to entry for a new generation of investors, and we’re excited to pursue that mission together,” said Mark Hipperson, founder and chief executive of Ziglu. “As part of Robinhood, we’ll supercharge Robinhood’s expansion across Europe and bring better access to crypto and its benefits to millions more customers.”

Earlier this year, Robinhood announced that it had set “aggressive goals” to start opening up its crypto platform to customers internationally.

“Ziglu’s impressive team of deeply experienced financial services and crypto experts will help us accelerate our global expansion efforts,” added Vlad Tenev, chief executive and co-founder of Robinhood Markets. “Together with the Ziglu team, we’ll work to leverage the best of both companies, exploring new ways to innovate and break down barriers for customers across the UK and Europe.”

The company said that in the short term nothing will change for existing Ziglu customers. In the future, it added, the company will be integrated more fully into Robinhood and its operations expanded beyond the UK and into continental Europe.

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