Robinhood to acquire British financial app Ziglu

Robinhood to acquire British financial app Ziglu

Robinhood to acquire British financial app Ziglu

Robinhood, an investment and trading app company, announced on the acquisition of startup Ziglu. He develops a crypto wallet with a bank card attached to it.

“Ziglu and Robinhood share a common goal of lowering barriers to a new generation of investors. By becoming part of Robinhood, we will strengthen the company’s expansion process in Europe and simplify access to cryptocurrencies and their benefits for millions of new customers,” said Mark Hipperson, founder and CEO of Ziglu.

The statement notes that for now, both companies will continue to work separately, since the takeover deal must be approved by the regulator.

“As our company expands internationally, we are pleased to announce the acquisition of Ziglu Limited, a UK-based company with licensed by the Electronic Money Institution”, — emphasized in Robinhood.

The company added that now in the Ziglu application, you can trade 11 cryptocurrencies, earn on deposits in digital assets, pay for purchases with a card and make transfers abroad.

The American broker made an ironic repost of a Ziglu tweet dated July 21, 2020, in which the startup called for the use of its services due to Robinhood’s decision to delay the launch in the UK.

Formerly Robinhood expanded access to beta testing of a cryptocurrency wallet and announced plans for Lightning Network integration.

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