Robinhood to Acquire Ziglu, Gaining a Foothold in the UK

Robinhood to acquire the UK crypto firm, Ziglu Limited, pending regulatory approval. The size of the deal is undisclosed. Ziglu Limited was founded in 2014 by Mark Hipperson who contributed to the establishment of the digital lender, Starling Bank.

Ziglu group was valued in November at GBP 85 million following a funding round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term when it raised GBP 7 million. Robinhood selected Ziglu as it is among the crypto companies that are fully licensed by the FCA.

Only 33 out of a long list of crypto companies received the approval of the FCA. By acquiring Ziglu, Robinhood will have regulated access to the UK market.

Robinhood followed the path of other crypto exchanges that have targeted UK firms due to their FCA approval. Bitpanda acquired Trustology for that very reason.

A month after Bitpanda's 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, Binance formed a partnership with Eqonex.

In 2020, Robinhood announced it is cancelling its plans to launch in the UK. In addition, the crypto company said it is placing its global expansion plans on hold.

"We initially planned to launch Robinhood in the UK in 2020. A lot changed in the world in the first half of 2020, and so we made the difficult decision to postpone our UK launch indefinitely in July 2020."

Officials Statements

Mark Hipperson, the Founder and CEO of Ziglu, said: "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."

Vlad Tenev, the CEO and Co-Founder of Robinhood Markets said: "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 UK and Europe.”

Robinhood has also shown some interest in NFTs.