Robinhood Acquires UK-Based Regulated Crypto Firm Ziglu

As part of its international expansion efforts, online brokerage platform Robinhood is acquiring UK-based regulated crypto firm Ziglu Limited to spread its presence into the UK and across Europe. In a blog post, Robinhood disclosed it had signed a deal with the London-based digital asset trading venue Ziglu Limited. The deal, however, is “subject to regulatory approvals and other customary closing conditions.” Robinhood will fully integrate Ziglu in order to “bring the Robinhood brand overseas” as it works to “expand operations beyond the U.K. into Europe.” The acquisition gives Robinhood a push in the U.K.’s crypto industry, which is subjected to stringent anti-money laundering regulations. Ziglu is among the 34 crypto firms regulated by the Financial Conduct Authority (FCA). Meanwhile, more than 100 companies have yet to receive that distinction. Founded in 2014, Ziglu allows the buying and selling of 11 cryptocurrencies, earn yield via its Boost products, pay using a debit card, and move and spend money around the world with no fees. The firm was valued at £85 million last November when it raised £7 million.The post Robinhood Acquires UK-Based Regulated Crypto Firm Ziglu first appeared on Cryptoknowmics-Crypto News and Media Platform.The post Robinhood Acquires UK-Based Regulated Crypto Firm Ziglu appeared first on Cryptoknowmics-Crypto News and Media Platform.