The Silicon Valley Fintech Startup RobinHood, valued at $7.6bn, has simply been granted approval by the Monetary Conduct Authority (FCA) to increase its operations into the UK market. The Firm’s mission to democratise finance by providing fee free inventory inveting has confirmed extremely widespread amongst youthful generations and its enlargement into cryptocurrency final 12 months has solely assist to speed up that development.
RobinHood launched in 2013 and has subsequently grown to over 6 million customers throughout the US. These customers can commerce a rising listing of conventional inventory choices alongside Bitcoin, Ethereum, Litecoin, BCH, Dogecoin and Ethereum Traditional in addition to view market information for an addititonal 11 digital belongings in whole that aren’t at present listed for buying and selling.
A brand new subsidiary, Robinhood Worldwide llc., primarily based out of London, has appointed former TransferWise government Wander Rutgers because it’s President. Rutgers will oversee UK operations and the brand new workforce at present being shaped, in an announcement in regards to the information he stated:
“Right this moment marks the start of a brand new chapter for Robinhood, and we’re excited to take the primary essential step in direction of bringing our investing platform to clients within the UK,”
“I’m thrilled to be part of Robinhood and our effort to increase into a brand new worldwide market.”
RobinHood joins a rising listing of cell brokerages within the area together with FreeTrade, Revolut, Bux and eToro and has plans to additional disrupt conventional banking and wealth administration providers going ahead.
