Robinhood, which has made a name for itself thanks to the listing of Shiba coins, is actually not just a cryptocurrency exchange. So what is Robinhood, what does it do and what benefits does it provide? Let’s take a look at the Robinhood news and other details that have been on the agenda lately.
Robinhood Cryptocurrency Exchange
Commission is money paid to intermediary institutions in exchange for their services. For example, when you buy $1,000 worth of bitcoins, $999 worth of BTC is transferred to your Binance account, and the transaction fee is $1 on average. But there are no commissions on the Robinhood platform. Robinhood, which provides its users with free services that log in from a phone or through a website, has been around for many years and owes its popularity to this.
No commission from the Robinhood platform;
You can easily access such options. This is how an institution that benefits financially from money management can survive. Even companies buy it. But not everything is free. For example, for a $1,000 margin trade, you must have a $5 gold membership. There is a commission for transferring an invoice and sending a receipt.
So let’s take a look at the latest Robinhood news.
Robinhood acquires the British cryptoplatform Ziglu. In 2020, the Financial Supervision Authority approved Ziglu to provide crypto services in the UK. Online brokerage platform Robinhood acquired the London-based Ziglu crypto platform, which made it a service approved by the UK Financial Supervision Authority.
The financial terms of the deal have not been announced, it was announced on Tuesday and is subject to regulatory approval. Ziglu offers trading services for 11 cryptocurrencies, as well as a Boost product that provides users with a return on their assets. In 2020, Ziglu was approved by the Financial Supervisory Authority (FCA) to provide cryptocurrency services in the UK, becoming the third firm to receive this approval.
“Ziglu’s impressive team of experienced financial services and cryptocurrency professionals will help us accelerate our global expansion efforts,” said Vlad Tenev, CEO and co—founder of Robinhood.