In a bid to amplify its global footprint, Robinhood, the online trading platform, has revealed its intentions to introduce its stock trading application in the United Kingdom. CEO Vladimir Tenev, in an exclusive interview with Bloomberg, unveiled the company’s strategy, citing the U.K. expansion as a pivotal step towards its global aspirations.
Tenev outlined that Robinhood has already initiated a waitlist for early access, with plans to progressively open the platform to all U.K. users by early 2024. The launch aims to grant access to trade over 6,000 U.S. stocks in the U.K. market, accompanied by the introduction of the 24-hour trading feature, recently introduced in the United States.
Expressing a resolute vision for global reach, Tenev emphasized, “I aspire for Robinhood to be a global company. That’s been the plan from the very beginning.” He elucidated the underlying ethos, reflecting on the immigrant background of Robinhood’s founders and their commitment to making their services universally accessible.
This endeavor marks Robinhood’s renewed effort to extend its presence into the U.K. market. Notably, the company previously aimed to launch its trading app in the U.K. in 2019 following approval from the Financial Conduct Authority. However, in 2020, global expansion plans were halted, and the U.K. launch was postponed indefinitely.
Now, with its sights firmly set on international expansion, Robinhood’s imminent entry into the U.K. market signals a strategic move to provide wider access to U.S. stocks and cultivate a global user base, aligning with the company’s overarching vision of inclusivity and accessibility in financial services.
