Robinhood acquires Ziglu, a U.K. crypto company
Robinhood acquires Ziglu, a U.K. crypto company
Crypto

Robinhood acquires Ziglu, a U.K. crypto company

By Eliano Martellucci - 20 Apr 2022

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Robinhood is a popular stock trading platform and, since 2018, has also been trading cryptocurrency. It operates in the U.S. market and has already planned to expand worldwide for two years. Ziglu’s acquisition plan to enter the UK market was already in place since 2020.

Robinhood’s acquisition of Ziglu

ziglu crypto platform
Robinhood’s expansion plan in Europe has begun, with a first acquisition of Ziglu, a crypto company operating in the United Kingdom

The attractive European market prompts Robinhood to make the first landing in the U.K., as it had already tried in 2020 without concluding, however. 

In this regard, the Robinhood team jokes on Twitter with a post published on its profile, saying:

“This aged well…”

That was in response to an old tweet by Ziglu where it stated that the launch of the Robinhood app in the U.K., initially scheduled for 2020, had been postponed

Just yesterday, however, the U.S. trading platform announced that it had signed an agreement to acquire Ziglu.

Ziglu is a platform that specializes only in buying and selling crypto and offering special boost services with APY up to 5%, operating in the U.K. 

Robinhood’s global expansion plan

Robinhood renews its international expansion plan by entering the U.K. market to reach all over Europe. 

In the official press release, in fact, the vision and mission of the U.S. company are clear, stating:

“At Robinhood, our mission to democratize finance for all can only be achieved if we reach people around the world. That’s why earlier this year, we announced that we’ve set aggressive goals to start opening our crypto platform up to customers internationally.”

Obviously, with such an expansion plan, among the toughest things falls the attention of one’s operational compliance. That must fulfill the regulations in place in the geographic area where you want to start a business, whatever that may be. 

That’s why through the acquisition of Ziglu, Robinhood aims to leverage the acquired company’s know-how not only from a practical and technical point of view but also from a compliance point of view.

In fact, Ziglu already operates in full compliance with British legislation, and Robinhood will only need to adopt the same model. 

Concerning the international expansion plan, Robinhood CEO and Co-Founder Vlad Tenev states with great satisfaction that:

“Ziglu’s impressive team of deeply experienced financial services and crypto experts will help us accelerate our global expansion efforts. 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 U.K. and Europe.”

Eliano Martellucci

Eliano has a bachelor's degree in Economics and Business Administration and is about to complete his master's studies in Finance at the University of Trento (UNITN). He got hooked on the crypto and blockchain world during the summer of 2017 and has not left it since then. He currently works as editor & SEO specialist at Cryptonomist, writes articles and invests, both in Blue Chip and early stage assets. Furthermore, he is working on his latest thesis project entitled: "A Study on crypto market Sentiment Analysis through Machine Learning algorithms in python."

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