Popular cryptocurrency trading platform Robinhood announced on Tuesday that it has acquired London-based crypto asset firm Ziglu as part of its global expansion efforts.
Robinhood Enters UK Market
UK-based users can now access 11 cryptocurrencies, earn returns, pay with debit cards, and cross-border cryptocurrencies with Ziglu can send money.
Robinhood tried to enter the UK market in early 2019, but delayed that plan to focus on its home market in 2020.
Robinhood’s monthly active users fell from 18.9 million to 17.3 million in the fourth quarter of last year. The platform is expected to increase the number of users with the Ziglu move.
Ziglu was the third firm to receive approval from the Financial Conduct Authority (FCA) to provide cryptocurrency services in the UK.
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