US trading platform Robinhood has agreed to purchase UK cryptocurrency firm Ziglu.
In Brief:
Ziglu is a platform approved by the FCA which enables UK customers to trade up to 11 cryptocurrencies.
It also offers the ability to pay with a card.
Founded by ex-Starling Bank’s Mark Hipperson, the business has raised £17.9mn up to now, with chunks of this from crowdfunding.
What does this mean?
The move marks Robinhood’s first foray into the UK market. It has been aiming to expand into the UK market since 2020 but decided to put its launch here on hold – it's now changed tack and chosen to acquire a popular UK startup instead.
