On April 19, Robinhood announced that it had agreed to buy Ziglu, a cryptocurrency exchange based in the United Kingdom. The American broker is expressing its willingness to improve its position in the UK and throughout Europe once again.
Robinhood is a brokerage and investment app available online. In the United States, it is one of the most popular commission-free stock trading firms. Its fundamental goal is to make the financial world more democratic for the entire population.
The organization has always had lofty aims and a fascination with cryptocurrency. For years, the broker has made it easy to buy and sell a variety of cryptocurrencies, including Bitcoin (BTC) and Ether (ETH) (ETH). It allowed customers to remove their assets from the platform in October 2021.
On Tuesday, April 19, Robinhood announced that it has inked a deal to purchase Ziglu Limited, a UK-based crypto asset startup, confirming its plan to enter the cryptocurrency industry.
Customers in the United Kingdom can use Ziglu to purchase and trade eleven cryptocurrencies, earn returns on their cryptos, pay with a debit card, and spend money even abroad, all without paying any fees.
Mark Hipperson, Founder, and CEO of Ziglu, said:
“Ziglu and Robinhood share a common set of goals, working to lower barriers to entry for a new generation of investors, and we are excited to continue this mission together. »
A desire to strengthen its position in Europe
Robinhood hopes to strengthen its position in Europe as a result of this acquisition by providing new services to its users at incomparable prices.
Ziglu CEO Mark Hipperson reiterated this desire to expand to the Old Continent:
As part of Robinhood, we will power Robinhood’s expansion across Europe and bring greater access to crypto and its benefits to millions more customers. »
Cryptocurrency exchanges have recognized that Europe is a legitimate market with a population that is enthusiastic about this type of commodity. According to a recent survey, 44 percent of Germans are willing to invest in cryptocurrencies.
Among the youngest populations, those who have received a better financial education than their elder’s thanks to the Internet and who seek above all to train themselves by their own means, the observation is clear: the interest in investing in
the bitcoin market continues to expand. Moreover half of 18-25-year-olds in France claimed they were interested in cryptos and NFTs in a recent survey.
Younger generations are growing up in a period where everything is connected, thus they want to invest with two clicks on the Internet. As a result, it’s no surprise that digital platforms like Robinhood and Ziglu have become so popular in recent years.