The Silicon Valley Fintech Startup RobinHood, valued at $7.6bn, has simply been granted approval by the Monetary Conduct Authority (FCA) to develop its operations into the UK market. The Firm’s mission to democratise finance by providing fee free inventory inveting has confirmed extremely standard amongst youthful generations and its enlargement into cryptocurrency final yr 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 checklist of conventional inventory choices alongside Bitcoin, Ethereum, Litecoin, BCH, Dogecoin and Ethereum Basic in addition to view market knowledge 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., based mostly out of London, has appointed former TransferWise government Wander Rutgers because it’s President. Rutgers will oversee UK operations and the brand new crew at present being fashioned, in a press release in regards to the information he stated:
“Right now marks the start of a brand new chapter for Robinhood, and we’re excited to take the primary vital step in the direction of bringing our investing platform to prospects within the UK,”
“I’m thrilled to be part of Robinhood and our effort to develop into a brand new worldwide market.”
RobinHood joins a rising checklist of cell brokerages within the house together with FreeTrade, Revolut, Bux and eToro and has plans to additional disrupt conventional banking and wealth administration providers going ahead.
