Investment company Robinhood has just announced it intends to buy startup Ziglu, developer of a cryptocurrency wallet.
Mark Hipperson, founder and CEO of Ziglu, has 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."
According to the statement, for the time being, both companies will continue to work separately, as the acquisition agreement has not yet been approved by the relevant regulator.
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Robinhood has reported:
"As we look to expand internationally, we’re excited to announce that we’ve signed a deal to acquire Ziglu Limited, a UK-based electronic money institution and crypto asset firm."
As part of the deal, users will be able to trade 11 cryptocurrencies on the Ziglu app. In addition, they will be able to use their card to make purchases and make transfers abroad.