Robinhood Markets to Buy U.K. Crypto Company Ziglu

By Denny Jacob

Robinhood Markets Inc. said Tuesday it signed a deal to acquire U.K.-based crypto-asset and electronic money company Ziglu Ltd. as part of its international expansion.

Terms of the deal weren't disclosed.

The brokerage said nothing will change for current Ziglu customers in the near-term, while in the longer term the company will integrate Ziglu more fully into Robinhood.

"Ziglu's impressive team of deeply experienced financial services and crypto experts will help us accelerate our global expansion efforts," Robinhood Chief Executive Vlad Tenev said.

This is the latest initiative by Robinhood to combat slowing growth tied to its trading revenue. The company in March said it is extending the hours it will let its users trade to between 7 a.m. ET and 8 p.m. ET.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

April 19, 2022 10:20 ET (14:20 GMT)

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