Robinhood (HOOD) Acquires Crypto App Ziglu

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HOOD announced on Tuesday, April 19, that it has agreed to buy Ziglu Limited—a London-based fintech app that allows users to trade Bitcoin and other leading cryptocurrencies.

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Robinhood, known for its commission-free stock trading, said that the acquisition will renew its global expansion push. Key Takeaways Robinhood has agreed to acquire London-based fintech crypto app Ziglu to bolster its global expansion. Ziglu is one of the few crypto companies that has successfully registered with the U. Robinhood initially planned a U. Robinhood, which since has offered trading in major cryptocurrencies like Bitcoin and Ethereuminitially planned to launch in the United Kingdom in but shelved the idea due to uncertainty caused by the pandemic.

Robinhood's Ziglu acquisition coincides with the discount broker's recent launch of its highly anticipated crypto wallet to 2 million users.

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Deal Eases Robinhood's U. Crypto Expansion Ziglu is just one of 33 crypto companies since last year that has successfully registered with the U. The U. The fintech firm founded by former Barclay's technology head and Starling bank co-founder Mark Hipperson allows users to buy and sell well-known cryptocurrencies, earn interest on their holdings, and make payments using a debit card. The company did not disclose the specific terms of the deal but said that it was subject to regulatory approvals and other customary closing conditions.

Robinhood noted that it eventually tranzacționare cu cripto-robinhood to integrate Ziglu into its platform and expand operations throughout Europe.

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Pivot to Crypto Amid Slowing Stock Trading Revenue The announcement comes a little over two months after Robinhood cautioned that record pandemic-driven stock trading activity had slowed. The brokerage firm, which went public last yearshot to prominence in as an army of retail traders used its app to speculate on popular meme stockssuch as GameStop Corp.

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AMCamid a social media-driven buying frenzy. A meme stock refers to the shares of a company that have gained a cult-like following online and through social media platforms. These online communities can go on to build hype around a stock through narratives and conversations elaborated in discussion threads on websites like Reddit and posts to followers on platforms like Twitter and Facebook.

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Robinhood crypto wallet has a waitlist of 1.6 million people: Robinhood Crypto COO:

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