Online brokerage platform Robinhood has agreed to buy London-based crypto firm Ziglu, giving it a Financial Conduct Authority-regulated arm in the U.K.

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The California-based company said Tuesday that “Ziglu's impressive team of deeply experienced financial services and crypto experts will accelerate our global expansion efforts.”

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Ziglu, founded in 2014 by entrepreneur Mark Hipperson, who helped found the UK digital lender Starling Bank, allows retail investors to buy and sell eleven cryptocurrencies. Robinhood has yet to disclose any financial terms for the deal, which is subject to regulatory approval.

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“Ziglu and Robinhood share a common set of goals, working to reduce the barriers to entry for a new generation of investors, and we’re excited to pursue  that mission together,” said Mark Hipperson, Founder and CEO of Ziglu.  “As part of Robinhood, we’ll supercharge Robinhood’s expansion across Europe and bring better access to crypto and its benefits to millions more customers.”

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Notably, Ziglu is among the 33 crypto companies given the green light by The Financial Conduct Authority’s registration regime, which requires firms that offer crypto services to comply with the U.K’s money laundering regulations.

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This acquisition comes three years after Robinhood announced it would expand into the UK market at the start of 2019, but a year later, in July 2020, it canceled its plans to focus on strengthening its core business in the U.S.

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