Robinhood to Set Up Crypto Trading Activities in Britain

Publicly traded fintech company Robinhood is on the way to expanding its crypto trading activities across Europe.

In a recent interview with British news media, The Times, Robinhood co-founder Vladimir Tenev revealed that Britain is the firm’s next stop in spreading its crypto trading activities.

Robinhood Expands to Britain

Launched in 2013, Robinhood operates natively in the United States. Its mobile app offers retail stock trading, exchange-traded funds (ETFs), crypto trading, and other services. Days before the 2024 U.S. election, the firm added an election trading market where participants speculated who would win the presidential election. Users can trade these digital assets 24 hours a day and 5 days a week.

In November 2023, Robinhood expanded its commission-free trading business to the UK, marking its first debut in another country outside the U.S. At launch, the fintech firm offered solely U.S.-traded stocks to UK customers. Last month, Robinhood introduced margin trading to its UK clients, allowing eligible users to secure loans to maximize returns.

Commenting on how much UK customers love these services, Tenev stated in the interview:

“It’s pretty clear that [British] customers love the product, and they’re looking to bring all of their financial activities to Robinhood. We have the potential to really be people’s financial home in the UK market.”

Bringing Crypto to the UK

Robinhood has yet to launch its crypto trading activities in the UK. However, things are about to change, as the company’s CEO hinted at a possible launch soon.

Without giving much detail about Robinhood’s expansion to Britain, Tenev revealed that services such as “odd bitcoin bet” and “AI-powered financial planning” will likely be introduced into the UK market.

Robinhood’s crypto services have been operational in the European Union since December 2023. Since then, the fintech company has introduced crypto-related functions like crypto staking, learning modules, localized apps, and crypto transfers for over 20 cryptocurrencies.

Earlier this year, the firm revealed plans to acquire the crypto exchange BitStamp. This acquisition move will allow Robinhood to grow its crypto business in Singapore, Slovenia, the U.S., Luxembourg, and the UK.