The online broker Robinhood announced the acquisition of the Ziglu startup, which develops a crypto wallet linked to a bank card.
“Ziglu and Robinhood share a common goal of reducing barriers for a new generation of investors. By becoming part of Robinhood, we will accelerate the company’s expansion in Europe and simplify access to cryptocurrencies and their benefits for millions of new customers,” said Ziglu founder and CEO Mark Hipperson.
In a statement, the companies noted that both will continue to operate separately for now, as the acquisition must be approved by the regulator.
“As our company expands internationally, we are pleased to announce the acquisition of Ziglu Limited, a UK-based company with an Electronic Money Institution license,” Robinhood said.
The company added that Ziglu’s app currently allows trading 11 cryptocurrencies, earning on deposits in digital assets, paying for purchases with a card, and making international transfers.
The American broker cheekily reposted Ziglu’s tweet from July 21, 2020, in which the startup urged people to use its services after Robinhood’s decision to delay the UK launch.
Earlier Robinhood expanded access to beta testing of the cryptocurrency wallet and announced plans to integrate the Lightning Network.
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