As part of its international expansion efforts, Robinhood signed an agreement to purchase the British cryptocurrency exchange – Ziglu Limited. The former raised hopes that the acquisition will allow it to spread its presence into the UK and across Europe.
The US financial services company – Robinhood – continues to be active on the crypto scene. In a blog post, the organization disclosed it had signed a deal with the London-based digital asset trading venue – Ziglu Limited. Once approved by regulators, Robinhood will acquire the British company as it seeks to expand its operations into Europe.
Vlad Tenev – CEO of the American firm – said Ziglu’s “impressive” team consists of “crypto experts” that will guide Robinhood’s operations on the Old 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,” he added.
For his part, Ziglu’s CEO – Mark Hipperson – stated that both parties share a common set of goals, such as “working to reduce the barriers to entry for a new generation of investors.” He asserted that his entity will aid Robinhood’s expansion and “bring better access to crypto and its benefits to millions more customers.”
Nothing will change for Ziglu’s users in the near term. For the longer term, Robinhood will integrate the exchange “more fully,” the statement reads.
A week ago, the US financial services company enabled its customers to deal with four additional cryptocurrencies. These included the popular memecoin Shiba Inu (SHIB), Solana (SOL), Polygon (MATIC), and Compound (COMP).
Steve Quirk – Chief Brokerage Officer at Robinhood – commented that the firm added those tokens as it strives to become the “best place to invest in crypto.” The executive maintained that the company has passed all safety procedures and remains “committed to providing a safe and educational” digital asset platform.
The prices of all assets rose after the news as SHIB’s spike was considerably more significant. The so-called Dogecoin killer soared by nearly 40%, reaching its highest price for April at $0.000030. It went through a correction in the following days and is currently trading at $0.000026.