Robinhood acquires UK crypto app Ziglu as it begins global expansion 🌍; Blockbuster Blockchain IPO? 🤯; Mastercard’s attempt to stay competitive in the crypto game 💳

Good Morning FinTech, 20 April

Good day Everyone,

And happy Wednesday! Today’s issue is more about crypto than anything else. These 3 FinTech stories are super exciting, so let’s jump straight into them:

Robinhood acquires UK crypto app Ziglu as it begins global expansion 🌍

The news 🗞 Nasdaq-listed trading platform Robinhood is acquiring Ziglu, a London-based electronic money institution, and crypto-asset firm.

The financial terms of the deal were not disclosed.

The USP 🥊 Founded in 2018, Ziglu allows U.K.-based retail investors to buy and sell 11 cryptocurrencies. Users can also earn yield via Ziglu’s “Boost” products, pay using a debit card, as well as transfer and spend money worldwide without fees.

The firm won approval to offer crypto services in the U.K. by financial watchdog the Financial Conduct Authority (FCA) in 2020, the third firm to gain such approval.

Ziglu raised over $7M on crowdfunding site Seedrs in November, the largest fundraise on Seedrs in 2021. It was valued at £85M back then.

At the core, the Ziglu acquisition is all about global expansion and fueling stalling growth. Here’s the takeaway: