Online trading platform Robinhood is gearing up for international expansion with the announcement of its stock-exchange application launch in the United Kingdom. Robinhood’s CEO, Vladimir Tenev, shared the company’s focus on global aspirations, and the UK expansion is a crucial step in that direction.
Speaking to Bloomberg, Tenev mentioned that a waitlist has been initiated for early access, with plans to gradually open the platform to the broader UK audience in early 2024. Tenev emphasized the company’s ambition, stating, “The intention is, for the U.K. market, Robinhood to be the best place to invest U.S. stocks, U.S. dollars, and we believe we can fill that need better than anyone else.”
The upcoming launch will enable the British market to trade 6,000 U.S. stocks, and Robinhood aims to introduce its 24-hour trading feature in the UK, a functionality recently implemented in the United States.
This move signals Robinhood’s renewed efforts to expand its reach globally. Tenev expressed his vision for Robinhood to be a global company, stating, “I aspire for Robinhood to be a global company. That’s been the plan from the very beginning.”
Tenev highlighted the inclusive vision behind Robinhood’s founding, saying, “Baiju and I started this company as immigrants and children of immigrants, and so, the idea of making our services available to anyone in the world is just the vision that I had in mind from the very beginning.”
While this isn’t the first attempt by Robinhood to enter the UK market, Tenev acknowledged the previous effort in 2019, where the company received approval from the Financial Conduct Authority (FCA) for its trading app launch. However, in 2020, the company postponed its UK launch and put its global expansion plans on hold indefinitely.
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