Crypto Trading App Robinhood Launching in UK Following FCA Approval

A subsidiary of United States-based inventory and crypto buying and selling app Robinhood has been accepted to function as a dealer in the UK.
Robinhood accepted to function as a dealer within the UK
Robinhood Worldwide, Robinhood subsidiary, has obtained regulatory approval from main British regulator, the Monetary Conduct Authority (FCA), in keeping with a weblog put up on Aug. 7.
The FCA approval will permit the agency to carry its investing platform to British clients, Robinhood mentioned within the report, including that the transfer can be a vital step on its path to democratizing finance for all. In response to the put up, Robinhood crew in London is already rising, and the corporate is hiring in fields of operations, compliance, consumer analysis and advertising.
Robinhood appoints former TransferWise exec as president 
Robinhood additionally appointed former head of treasury at cash switch service TransferWise Wander Rutgers as President of Robinhood Worldwide. Rutgers, who most not too long ago served at private financial savings assistant options supplier Plum Fintech, will lead the U.Ok. enterprise and oversee Robinhood’s new London workplace, the weblog put up notes.
Robinhood gives commission-free cryptocurrency buying and selling. In February 2018, Robinhood cell buying and selling app launched zero-fee buying and selling of Bitcoin and Ether for the primary batch of customers within the U.S. Earlier this yr, Robinhood obtained a BitLicense to supply crypto-related providers in New York from the New York State Division of Monetary Companies.
Robinhood Monetary is registered with the U.S. Securities and Alternate Fee, and is a member of the Monetary Business Regulatory Authority and likewise a member of the Securities Investor Safety Company.
Final month, the FCA issued a coverage assertion on cryptocurrencies that mentioned that the company won’t regulate Bitcoin as part of its steering on crypto belongings.

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