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.
Robinhood reveals its deal with Ziglu
The American financial services company – Robinhood – continues to be active in the crypto scene. In a blog post, the organization revealed that it has signed an agreement with London-based digital asset trading venue – Ziglu Limited. Once approved by regulators, Robinhood will acquire the UK company as it seeks to expand its operations in 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.
“With the Ziglu team, we will 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 users in the short term. Longer term, Robinhood will integrate the exchange “more fully,” the statement said.
Robinhood Listed Shiba Inu and Solana
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 – said the company added these tokens as it strives to become the “best place to invest in crypto”. The executive claimed that the company has passed all security 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.
