Robinhood Acquires UK Crypto Exchange Ziglu

Robinhood acquires British crypto exchange Ziglu. (Robinhood)

JAKARTA – The US-based crypto trading platform giant, Robinhood, is increasingly expanding its wings to Europe. Recently, Robinhood managed to sign a memorandum of understanding to buy a UK-based crypto exchange, Ziglu Limited.

The acquisition allows Robinhood to expand its expansion in the Blue continent, starting from the UK. In an announcement, Robinhood claimed to have obtained regulatory approval to buy Ziglu as part of efforts to expand its international operations.

Robinhood's CEO, Vlad Tenev, stated that Ziglu's team consisted of "impressive" people as it consisted of various "crypto experts" who could guide Robinhood's operations in continental Europe.

“Together with the Ziglu team, we will work to improve both companies, exploring new ways to innovate and break down barriers for customers across the UK and Europe,” said Tenev.

Meanwhile, Ziglu CEO Mark Hipperson admits that Robinhood and Ziglu have the same mission. Hipperson is ready to help with Robinhood's expansion and provide better access to crypto.

Although Ziglu was acquired by Robinhood, Ziglu's platform itself is said to be unchanged in the near future. Although for the long term, Robinhood itself plans to make Ziglu a more complete crypto exchange than before.