Robinhood has agreed to buy Ziglu Limited, a British cryptocurrency exchange, as part of its worldwide expansion plans. The former expressed optimism that the acquisition would help it to expand its influence in the United Kingdom and throughout Europe.
Robinhood, a financial services company based in the United States, is still engaged in the cryptocurrency market. The organization announced in a blog post that it has reached an agreement with Ziglu Limited, a London-based digital asset trading site. Robinhood will buy the British company once authorities allow it as it wants to expand its operations into Europe.
The American firm’s CEO, Vlad Tenev, stated that Ziglu’s “impressive” staff includes “crypto experts” who will oversee Robinhood‘s activities on the continent.
“Together with the Ziglu team, we’ll work to leverage both companies, exploring new ways to innovate and break down barriers for customers across the UK and Europe.”
Mark Hipperson, Ziglu’s CEO, noted that the two companies have similar ambitions, such as “working to reduce the barriers to entry for a new generation of investors.” He claims his company will help Robinhood grow and “bring better access to crypto and its benefits to millions more customers.”
In the near future, nothing will change for Ziglu‘s users. In the long run, Robinhood plans to integrate the exchange “more thoroughly,” according to the announcement.
The US financial services company allowed its customers to deal with four more cryptocurrencies a week ago. Shiba Inu (SHIB), Solana (SOL), Polygon (MATIC), and Compound were among the most popular memecoins (COMP).