Robinhood Signs Deal to Acquire UK Crypto App Ziglu

On Tuesday, Robinhood, a major US commission-free stock trading and investing app, announced that it reached an agreement to acquire the London-based fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term app, Ziglu. According to CNBC, the app allows users to trade Bitcoin (BTC) and other cryptocurrencies.

“Ziglu and Robinhood share a common set of goals, working to reduce the barriers to entry for a new generation of investors, and we’re excited to pursue that mission together. As part of Robinhood, we’ll supercharge Robinhood’s expansion across Europe and bring better access to crypto and its benefits to millions more customers,” Mark Hipperson, the Founder and CEO of Ziglu, commented in a blog post published in Robinhood.

The acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term comes in the midst of the platform’s expansion into the UK and Europe, as the plans were halted two years ago. “Like Robinhood, Ziglu believes that the new era of digital money brings a multitude of opportunities, and Ziglu exists to make those opportunities accessible to everyone. Their talented team and technology will help us accelerate our international expansion, both in the UK and across Europe,” the stock trading and investing app pointed out in the blog post.

As of press time, the terms of the acquisition have not been disclosed, and the deal is pending regulatory approvals and other customary closing conditions. In total, the company has raised GBP 17.5 million ($22.8 million) to date, including GBP 13.4 million from retail investors through equity crowdfunding platform Seedrs. At its last valuation, the company stood at GBP 85 million. CNBC said that it is one of the few crypto firms to have been registered with the UK’s Financial Conduct Authority (FCA).

Robinhood Crypto Wallet

Early this month, Aparna Chennapragada, the Chief Product Officer at Robinhood, announced that eligible users on the waitlist would have the company’s long-awaited crypto wallet. The announcement was made at the Bitcoin Conference 2022 in Miami, Florida where Robinhood pointed out that the waitlist accounted for over two million people.