#**Ziglu Crypto Friendly Bank Looking for a Way Forward After Robin Hood Deal Collapse**

According to reports, Sky News quoted sources as reporting that Ziglu, a British crypto friendly bank, is negotiating with buyers interested in acquiring it at a lower price after the collapse of its acquisition deal with Robin Hood, and is hiring investment bankers to oversee the sale. In addition, the company hopes to raise approximately £ 2 million ($2.46 million) at a valuation of $12.3 million to enable it to continue operating until a sales agreement is reached.

Foreign media: Crypto Friendly Bank Ziglu is negotiating with potential buyers and plans to raise $2.46 million to continue operations before being acquired

The collapse of the acquisition deal between Ziglu and Robin Hood has left the British crypto friendly bank looking for a way forward. According to a report by Sky News, Ziglu is now negotiating with possible buyers interested in acquiring it at a lower price than what Robin Hood had offered. In addition, the company is hiring investment bankers to oversee the sale and hopes to raise £2 million ($2.46 million) to enable it to continue operating until a sales agreement is reached. In this article, we will examine the issues surrounding Ziglu’s situation and what it takes to navigate the cryptocurrency banking industry in such circumstances.
##**The Background of Ziglu and its Robin Hood Deal**
Ziglu is a fintech company that had been in operation for approximately a year before the Robin Hood deal was announced. The company’s founders had extensive experience in the traditional banking sector and decided to create a neo-bank that focused on cryptocurrency. The platform allows clients to hold, buy, and sell cryptocurrencies, as well as exchange them for fiat money.
The deal with Robin Hood seemed like a perfect match. Robin Hood is a US-based company that had been growing exponentially in the past few years, offering zero-commission trading to the masses. The acquisition of Ziglu was meant to help Robin Hood expand into the UK and other parts of Europe, thereby effectively creating a cross-Atlantic trading platform. However, the acquisition deal fell apart soon after the announcement, leaving Ziglu to fend for itself.
##**Ziglu’s Current Situation**
The sudden collapse of the acquisition deal with Robin Hood left Ziglu’s board members in a tight spot. According to the Sky News report, the management team is now looking for alternative buyers who are willing to purchase the company at a lower price. Ziglu’s situation is not new to the cryptocurrency industry, which is highly volatile and unpredictable. Companies can thrive one day, only to collapse the next day due to market sentiment, political factors, or regulatory changes.
However, Ziglu’s management team seems to be taking proactive steps to secure the company’s future. They are reportedly in talks with potential buyers and are hiring investment bankers to oversee the sale. Additionally, the company is looking to raise £2 million to keep it afloat until a sales agreement is reached. These actions demonstrate that the management team is determined to overcome the current crisis and protect the interests of Ziglu’s clients.
##**Navigating the Cryptocurrency Banking Industry**
Ziglu’s current situation highlights the challenges of running a cryptocurrency bank. For starters, the industry is highly regulated and subject to constant changes. Governments around the world are wary of cryptocurrencies due to their association with money laundering, cybercrime, and other illegal activities. Therefore, cryptocurrency banks must pursue regulatory compliance while maintaining their clients’ privacy and security.
Moreover, the cryptocurrency industry is highly competitive, with many startups entering the market every day. Unlike traditional banks, which have established reputations and customer bases, cryptocurrency banks must build trust with their clients from scratch. This requires a lot of investment in marketing, branding, and customer engagement, as well as offering competitive rates and excellent service.
In light of these challenges, cryptocurrency banks must be agile, innovative, and forward-thinking. They must keep up with the latest industry trends, adapt to regulatory changes, and anticipate customer needs. For example, some cryptocurrency banks have recently started offering debit cards, allowing clients to use their cryptocurrencies to pay for goods and services at merchants that accept Visa or Mastercard. Such innovations increase the adoption of cryptocurrencies and attract new clients to the platform.
##**Conclusion**
In conclusion, Ziglu’s situation is a reminder that the cryptocurrency banking industry is highly volatile and unpredictable. Companies must anticipate such circumstances and be ready to take proactive measures to secure their future. Ziglu’s management is currently pursuing potential buyers, raising funds, and hiring investment bankers to assist with the sale, showing determination to overcome the current crisis.
To navigate the cryptocurrency banking industry, companies must be agile, innovative, and forward-thinking. They must stay up to date with the latest trends and regulatory changes, anticipate customer needs, and offer competitive rates and excellent service. By doing so, they can build a reputable brand that inspires trust and attracts clients to their platform.
##**FAQs**
1. Q: What caused the collapse of the Ziglu acquisition deal with Robin Hood?
A: The reason for the collapse of the acquisition deal between Ziglu and Robin Hood is currently unknown.
2. Q: How does Ziglu plan to fund its operations while searching for potential buyers?
A: Ziglu is looking to raise £2 million to keep its operations running until a sales agreement is reached.
3. Q: What are some challenges of operating a cryptocurrency bank?
A: Some of the challenges of operating a cryptocurrency bank include regulatory compliance, customer engagement, innovation, and competition.