Robinhood acquires crypto company Ziglu for expansion in Europe

Robinhood acquires crypto company Ziglu for the European expansion of its services. Ziglu is a crypto-asset company and also an e-money institution. It’s good because the exchange found itself in a difficult situation after the Doge mania died down. Crypto trading revenue on Robinhood has fallen significantly from its peak and may continue to decline. Therefore, expanding to more countries to reach a large audience is a good approach.

Robinhood acquires crypto company Ziglu

The acquisition of Robinhood is a direct result of its desire to expand its service globally. The company claims to want to “democratize finance for all”. He also added that as a result, they have set goals to offer services internationally. Now, the first step for this could be to reach the audience of the European nation. The EU is one of the largest crypto markets after the US, and Robinhood is bound to find a large user base there.

Image source: Forbes

Ziglu’s CEO said they have common goals with Robinhood and will help with their expansion in Europe. For now, their customer bases will remain separate, but over time Robinhood will integrate Ziglu into their platform, allowing them to reach other countries and also take their customer base.

Robinhood also offers stock trading services on the same platform. But they don’t plan to offer these services globally. The company’s chief brokerage believes that crypto is going to get more traction globally and therefore comes first.

About Ziglu

Ziglu’s goal is one of justice and financial inclusion, allowing anyone to effortlessly, securely and affordably engage in the world of cryptocurrencies. It provides seamless, inexpensive, and simple access to a variety of cryptocurrencies such as Bitcoin, Bitcoin Cash, Ether, and Litecoin. Ziglu customers have the flexibility to spend, exchange and send money where, when and how they want using our Mastercard debit card. They are valued at over €85m, with their last funding round of €7m in November 2021.

What are your thoughts on Robinhood’s acquisition of crypto company Ziglu? And do you think their international expansion will help to consistently increase their crypto revenue and profits? Let us know in the comments below. Also, if you found our content informative, like it and share it with your friends.

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Mary I. Bruner